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Thomas N. Cerovski, Senior Vice President of Global Sales at Thermon Group Holdings, Inc. (NYSE:THR), has purchased 500 shares of the company’s common stock. The company, with a market capitalization of $918 million, maintains strong liquidity with a current ratio of 2.56x. The shares were acquired at a price of $27.72 each, totaling approximately $13,860. Following this transaction, Cerovski holds a total of 42,606 shares, which includes 7,571 restricted stock units. This recent purchase reflects Cerovski’s continued investment in Thermon Group, a company known for its electrical industrial apparatus. According to InvestingPro analysis, THR is currently trading below its Fair Value, with additional insights available in the comprehensive Pro Research Report, which offers deep-dive analysis of 1,400+ top stocks.
In other recent news, Thermon Group reported a mixed bag of results in recent quarters. The company’s adjusted earnings per share (EPS) of $0.56 was a slight decrease from the previous year’s $0.59, falling short of Kansas City Capital’s estimate of $0.61. Thermon Group’s revenue for the quarter was $134.4 million, a 1.5% decrease from the previous year, and below the estimated $146.4 million. However, the company did achieve a gross margin of 46.2%, surpassing last year’s 42.1% and the 43.9% estimated by Kansas City Capital.
Despite the setbacks, there were some positive developments. Thermon Group completed the acquisition of F.A.T.I. to expand its Eastern Hemisphere presence, and operational expenditure (OpEx) revenues demonstrated resilience, increasing by 10% to $97.2 million. Total (EPA:TTEF) orders rose by 13% to $131.1 million, with a backlog increase of 29% to $214.9 million.
These recent developments suggest that while Thermon Group faces challenges, such as a decrease in large project revenues and earnings shortfalls, there are also areas of growth and potential for increased revenue and earnings in the coming fiscal year. Kansas City Capital maintains a Perform rating on the stock, reflecting a cautious but slightly optimistic outlook for the company’s performance in the near future.
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