Thermon Group (NYSE:THR) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a research note released on Tuesday.

Separately, Roth Mkm assumed coverage on Thermon Group in a report on Wednesday, March 6th. They set a buy rating and a $36.00 price objective on the stock.

Thermon Group Stock Performance

Thermon Group stock opened at $32.72 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.53 and a current ratio of 2.22. The stock has a fifty day moving average of $28.97 and a two-hundred day moving average of $29.44. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 22.72 and a beta of 1.16. Thermon Group has a fifty-two week low of $20.56 and a fifty-two week high of $34.07.

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

Insider Activity at Thermon Group

In other news, Director Roger L. Fix bought 1,555 shares of Thermon Group stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased 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 owns 28,273 shares of the company’s stock, valued at $726,616.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in Thermon Group in the fourth quarter valued at $827,000. Vanguard Group Inc. boosted its holdings in Thermon Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 3,363,315 shares of the technology company’s stock valued at $109,543,000 after acquiring an additional 21,971 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Thermon Group by 11.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 486,360 shares of the technology company’s stock valued at $15,841,000 after acquiring an additional 49,201 shares during the last quarter. Meros Investment Management LP raised its position in Thermon Group by 1.2% in the fourth quarter. Meros Investment Management LP now owns 86,015 shares of the technology company’s stock valued at $2,802,000 after purchasing an additional 995 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Thermon Group in the fourth quarter valued at about $248,000. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.