Thermon Group Holdings Inc. Receives a Hold from Oppenheimer

By Jason Carr

Oppenheimer analyst Jon Braatz assigned a Hold rating to Thermon Group Holdings Inc. (NYSE: THR) today. The company’s shares opened today at $17.97.

According to TipRanks.com, Braatz is a 5-star analyst with an average return of 15.1% and a 79.2% success rate. Braatz covers the Industrial Goods sector, focusing on stocks such as Global Power Equipment Group Inc, Layne Christensen Company, and Powell Industries.

Currently, the analyst consensus on Thermon Group Holdings Inc. is Moderate Buy and the average price target is $23, representing a 28.0% upside.

In a report issued on November 2, BMO Capital also reiterated a Hold rating on the stock.

Based on Thermon Group Holdings Inc.’s latest earnings report from June 30, the company posted quarterly revenue of $63.4M and quarterly net profit of $2.53M. In comparison, last year the company earned revenue of $69.93M and had a net profit of $6.9M.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is neutral on the stock. Most recently, in January 2016, Jay Peterson, the CFO of THR bought 1,000 shares for a total of $16,580.

Thermon Group Holdings, Inc. provides engineered thermal solutions, known as heat tracing, for process industries, including energy, chemical processing and power generation. Its products provide an external heat source to pipes, vessels and instruments for the purposes of freeze protection, temperature maintenance, environmental monitoring and surface snow and ice melting. The company’s products include wide range of electric heat tracing cables, steam tracing components, and tubing bundles, as well as instrument and control products. It also provides design optimization, engineering, installation and maintenance services. Thermon Group Holdings was founded in 2010 and is headquartered in San Marcos, TX.