Thermon Group (NYSE:THR) Upgraded by StockNews.com to “Buy”

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

Separately, Roth Mkm initiated coverage on Thermon Group in a research note on Wednesday, March 6th. They issued a buy rating and a $36.00 target price for the company.

Thermon Group Trading Down 1.6 %

NYSE THR opened at $30.42 on Friday. Thermon Group has a fifty-two week low of $20.56 and a fifty-two week high of $34.07. 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 50 day simple moving average of $29.35 and a two-hundred day simple moving average of $29.85. The stock has a market cap of $1.03 billion, a P/E ratio of 21.13 and a beta of 1.18.

Thermon Group (NYSE:THR) last released its quarterly earnings data 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 business had revenue of $136.43 million during the quarter, compared to analysts’ expectations of $128.22 million. On average, analysts forecast that Thermon Group will post 1.8 earnings per share for the current year.

Insider Activity

In other news, Director Roger L. Fix bought 1,555 shares of the stock in a transaction dated Tuesday, February 6th. The stock was bought at an average price of $25.70 per share, for a total transaction of $39,963.50. Following the purchase, the director now directly owns 28,273 shares in the company, valued at approximately $726,616.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in THR. Great West Life Assurance Co. Can raised its stake in Thermon Group by 134.3% during the first quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock valued at $40,000 after buying an additional 1,332 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Thermon Group during the first quarter valued at $44,000. Lazard Asset Management LLC purchased a new position in Thermon Group during the first quarter valued at $45,000. UniSuper Management Pty Ltd purchased a new position in Thermon Group during the second quarter valued at $64,000. Finally, Tower Research Capital LLC TRC raised its stake in Thermon Group by 243.2% during the third quarter. Tower Research Capital LLC TRC now owns 4,393 shares of the technology company’s stock valued at $68,000 after buying an additional 3,113 shares during the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

About Thermon Group

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.