The SunTrust Banks Brokers Increase Earnings Estimates for Thermon Group Holdings, Inc. (THR)

The SunTrust Banks Brokers Increase Earnings Estimates for Thermon Group Holdings, Inc. (THR)

Thermon Group Holdings, Inc. (NYSE:THR) – Analysts at SunTrust Banks upped their FY2018 earnings estimates for Thermon Group Holdings in a report released on Monday. SunTrust Banks analyst C. Brady now anticipates that the technology company will post earnings of $0.49 per share for the year, up from their previous forecast of $0.44. SunTrust Banks currently has a “Hold” rating and a $20.00 price target on the stock. SunTrust Banks also issued estimates for Thermon Group Holdings’ Q1 2019 earnings at $0.12 EPS, Q2 2019 earnings at $0.17 EPS, Q4 2019 earnings at $0.22 EPS and FY2019 earnings at $0.71 EPS.

Thermon Group Holdings (NYSE:THR) last released its earnings results on Monday, October 23rd. The technology company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.04. The company had revenue of $61.63 million during the quarter, compared to analysts’ expectations of $61.64 million. Thermon Group Holdings had a return on equity of 4.47% and a net margin of 5.65%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS.

THR has been the subject of a number of other reports. Zacks Investment Research upgraded Thermon Group Holdings from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub downgraded Thermon Group Holdings from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $25.00 price objective (up from $21.00) on shares of Thermon Group Holdings in a report on Friday, October 6th. ValuEngine upgraded Thermon Group Holdings from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Finally, BMO Capital Markets increased their price objective on Thermon Group Holdings from $21.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.50.

Thermon Group Holdings (NYSE THR) traded up 2.44% during midday trading on Wednesday, hitting $21.79. The stock had a trading volume of 104,373 shares. The company has a 50-day moving average of $19.04 and a 200-day moving average of $18.79. Thermon Group Holdings has a 1-year low of $15.74 and a 1-year high of $22.36. The stock has a market cap of $706.04 million, a price-to-earnings ratio of 57.49 and a beta of 0.97.

A number of institutional investors and hedge funds have recently modified their holdings of THR. Janus Henderson Group PLC bought a new stake in Thermon Group Holdings during the second quarter valued at $49,144,000. American Century Companies Inc. bought a new stake in Thermon Group Holdings during the second quarter valued at $6,681,000. Northern Trust Corp boosted its position in Thermon Group Holdings by 43.5% during the second quarter. Northern Trust Corp now owns 559,499 shares of the technology company’s stock valued at $10,725,000 after acquiring an additional 169,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Thermon Group Holdings by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,517,164 shares of the technology company’s stock valued at $29,083,000 after acquiring an additional 142,933 shares during the last quarter. Finally, Kempen Capital Management N.V. bought a new stake in Thermon Group Holdings during the second quarter valued at $2,542,000.

Thermon Group Holdings Company Profile

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