Thermon Group (NYSE:THR) Hits New 1-Year Low - Here's Why

Shares of Thermon Group Holdings, Inc. (NYSE:THR - Get Free Report) reached a new 52-week low during trading on Friday . The stock traded as low as $24.10 and last traded at $24.63, with a volume of 483 shares changing hands. The stock had previously closed at $25.97.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Thermon Group from a "strong-buy" rating to a "buy" rating in a report on Tuesday, February 25th.

Thermon Group Stock Up 7.0 %

The firm has a 50-day simple moving average of $28.48 and a 200 day simple moving average of $29.06. The stock has a market capitalization of $851.01 million, a P/E ratio of 18.65 and a beta of 0.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71.

Thermon Group (NYSE:THR - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. On average, equities research analysts forecast that Thermon Group Holdings, Inc. will post 1.88 EPS for the current year.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in Thermon Group by 2.1% during the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company's stock valued at $595,000 after acquiring an additional 422 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Thermon Group by 2.1% during the 4th quarter. D.A. Davidson & CO. now owns 29,908 shares of the technology company's stock valued at $860,000 after acquiring an additional 626 shares during the period. Quarry LP boosted its stake in Thermon Group by 314.1% during the fourth quarter. Quarry LP now owns 853 shares of the technology company's stock worth $25,000 after acquiring an additional 647 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Thermon Group by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,977 shares of the technology company's stock worth $546,000 after purchasing an additional 678 shares during the period. Finally, Riverpoint Wealth Management Holdings LLC raised its holdings in shares of Thermon Group by 1.7% during the fourth quarter. Riverpoint Wealth Management Holdings LLC now owns 47,862 shares of the technology company's stock valued at $1,377,000 after purchasing an additional 805 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

Thermon Group Company Profile

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries in the United States and Latin America, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It offers heat tracing products, such as electric heat tracing cables, steam heating solutions, controls, monitoring and software, instrumentation, project services, industrial heating and filtration solutions, temporary electrical power distribution and lighting, and other products and services.