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 report published on Saturday morning.

THR has been the subject of a number of other reports. CJS Securities began coverage on Thermon Group in a report on Monday, April 29th. They issued an outperform rating and a $42.00 price target for the company. Roth Mkm assumed coverage on shares of Thermon Group in a report on Wednesday, March 6th. They issued a buy rating and a $36.00 price target for the company.

Thermon Group Stock Performance

Shares of Thermon Group stock traded down $0.10 on Friday, reaching $32.74. 225,044 shares of the company traded hands, compared to its average volume of 168,990. The company has a 50 day moving average of $30.48 and a 200 day moving average of $30.20. Thermon Group has a 52 week low of $20.56 and a 52 week high of $34.07. The firm has a market capitalization of $1.10 billion, a PE ratio of 22.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.22 and a quick ratio of 1.53.

Thermon Group (NYSE:THR) last released its quarterly earnings data on Thursday, February 1st. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $128.22 million. Equities analysts forecast 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 on Tuesday, February 6th. The stock was acquired at an average price of $25.70 per share, with a total value of $39,963.50. Following the purchase, the director now directly owns 28,273 shares in the company, valued at $726,616.10. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Thermon Group

Institutional investors have recently modified their holdings of the company. Hunter Associates Investment Management LLC purchased a new stake in Thermon Group in the first quarter worth approximately $415,000. BNP Paribas Financial Markets raised its position in Thermon Group by 55.9% in the 1st quarter. BNP Paribas Financial Markets now owns 19,738 shares of the technology company’s stock worth $646,000 after purchasing an additional 7,076 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Thermon Group by 144.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,868 shares of the technology company’s stock worth $257,000 after purchasing an additional 4,654 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Thermon Group by 39.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 25,636 shares of the technology company’s stock valued at $839,000 after buying an additional 7,221 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Thermon Group during the fourth quarter valued at about $827,000. 99.76% of the stock is currently owned by institutional investors.

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.