Thermon Group (NYSE:THR) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Thermon Group (NYSE:THR – Get Rating) issued its earnings results on Wednesday. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02, MarketWatch Earnings reports. Thermon Group had a net margin of 3.63% and a return on equity of 5.14%. During the same quarter in the previous year, the business posted $0.03 EPS.

THR opened at $15.71 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.18 and a current ratio of 3.11. The stock has a market capitalization of $523.93 million, a PE ratio of 44.89 and a beta of 1.34. The stock’s 50 day moving average price is $15.81 and its 200-day moving average price is $16.91. Thermon Group has a 52-week low of $14.12 and a 52-week high of $20.35.

THR has been the subject of several analyst reports. Zacks Investment Research downgraded Thermon Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. TheStreet raised shares of Thermon Group from a “c” rating to a “b” rating in a research note on Friday, February 4th. Finally, StockNews.com cut Thermon Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

A number of hedge funds have recently added to or reduced their stakes in THR. Morgan Stanley grew its stake in Thermon Group by 11,286.7% in the second quarter. Morgan Stanley now owns 103,391 shares of the technology company’s stock worth $1,762,000 after purchasing an additional 102,483 shares during the period. Invesco Ltd. increased its stake in shares of Thermon Group by 6.5% in the 3rd quarter. Invesco Ltd. now owns 58,042 shares of the technology company’s stock worth $1,005,000 after acquiring an additional 3,561 shares in the last quarter. Royal Bank of Canada boosted its stake in Thermon Group by 69.3% during the third quarter. Royal Bank of Canada now owns 4,116 shares of the technology company’s stock worth $72,000 after acquiring an additional 1,685 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Thermon Group during the third quarter valued at approximately $1,674,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Thermon Group by 64.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 9,484 shares of the technology company’s stock worth $164,000 after purchasing an additional 3,700 shares in the last quarter. 93.81% of the stock is owned by institutional investors.

About Thermon Group (Get Rating)

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries worldwide. Its products include electric heating products, such as air heaters and heating accessories, boilers and calorifiers, controlling and monitoring solutions, heat tracing systems, tank heating systems, thermostats, and system accessories, as well as band, strip, tubular, immersion, and process heaters; and gas heating products, including enclosure and explosion proof gas catalytic heaters, gas fired blowers, and has heating accessories that comprise regulators, valves, mounting brackets, and battery cables.

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