Rosenblatt Securities Thinks Thermon Group Holdings’ Stock is Going to Recover

By Ryan Adsit

In a report released today, Scott Graham from Rosenblatt Securities reiterated a Buy rating on Thermon Group Holdings (THRResearch Report), with a price target of $19.00. The company’s shares closed last Tuesday at $13.18, close to its 52-week low of $12.62.

According to TipRanks.com, Graham is a 5-star analyst with an average return of 6.3% and a 59.8% success rate. Graham covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation, AO Smith, and Pentair.

Thermon Group Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $23.50.

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Based on Thermon Group Holdings’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $100 million and net profit of $6.52 million. In comparison, last year the company earned revenue of $119 million and had a net profit of $9.72 million.

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Thermon Group Holdings, Inc. engages in the development, manufacture, and trade of engineered thermal solutions for process industries. It operates through the following geographical segments: United States & Latin America (US-LAM), Canada, Europe, Middle East & Africa (EMEA), and Asia Pacific (APAC). Its products include electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products. The company was founded by Richard Burdick in October 1954 and is headquartered in Austin, TX.