Thermon Group (NYSE:THR) Rating Increased to Buy at StockNews.com

Thermon Group (NYSE:THR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the company. Roth Mkm started coverage on Thermon Group in a research report on Wednesday, March 6th. They set a “buy” rating and a $36.00 price target on the stock. CJS Securities began coverage on shares of Thermon Group in a report on Monday, April 29th. They set an “outperform” rating and a $42.00 target price on the stock.

Thermon Group Stock Performance

Shares of THR stock opened at $32.74 on Friday. The firm’s 50 day moving average is $30.48 and its 200 day moving average is $30.22. The stock has a market capitalization of $1.10 billion, a P/E ratio of 22.74 and a beta of 1.17. Thermon Group has a 12 month low of $20.56 and a 12 month high of $34.07. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35.

Thermon Group (NYSE:THR) last issued its earnings results on Thursday, February 1st. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. Thermon Group had a net margin of 10.05% and a return on equity of 14.60%. The business had revenue of $136.43 million for the quarter, compared to analysts’ expectations of $128.22 million. On average, sell-side analysts anticipate that Thermon Group will post 1.8 earnings per share for the current year.

Insider Activity at Thermon Group

In related news, Director Roger L. Fix purchased 1,555 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average price of $25.70 per share, for a total transaction of $39,963.50. Following the completion of the acquisition, the director now directly owns 28,273 shares in the company, valued at approximately $726,616.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Thermon Group

Several large investors have recently made changes to their positions in THR. AJOVista LLC bought a new stake in shares of Thermon Group during the fourth quarter valued at approximately $85,000. Quest Partners LLC purchased a new stake in shares of Thermon Group during the fourth quarter valued at $167,000. QRG Capital Management Inc. purchased a new position in Thermon Group in the 4th quarter worth about $238,000. Hennion & Walsh Asset Management Inc. purchased a new position in Thermon Group in the 3rd quarter worth about $248,000. Finally, Premier Fund Managers Ltd bought a new position in Thermon Group during the 3rd quarter valued at about $254,000. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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 provides 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.