Thermon Group (NYSE:THR) Lifted to Buy at ValuEngine

Thermon Group (NYSE:THR) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of Thermon Group from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Thermon Group presently has an average rating of “Buy” and an average target price of $27.33.

THR traded up $0.76 on Wednesday, hitting $24.02. 111,200 shares of the stock were exchanged, compared to its average volume of 113,155. The firm has a market capitalization of $740.98 million, a price-to-earnings ratio of 20.18 and a beta of 1.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.44 and a quick ratio of 2.44. Thermon Group has a 12 month low of $18.37 and a 12 month high of $26.81. The business has a 50-day moving average of $22.85 and a two-hundred day moving average of $24.47.

Thermon Group (NYSE:THR) last released its earnings results on Thursday, August 8th. The technology company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.09). The firm had revenue of $91.70 million during the quarter, compared to the consensus estimate of $89.35 million. Thermon Group had a net margin of 5.10% and a return on equity of 10.42%. Thermon Group’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. Equities research analysts expect that Thermon Group will post 1.28 earnings per share for the current fiscal year.

In related news, SVP James Pribble bought 1,400 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $21.35 per share, with a total value of $29,890.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Der Salm Johannes Rene Van sold 8,716 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $23.90, for a total transaction of $208,312.40. The disclosure for this sale can be found here. In the last quarter, insiders bought 9,006 shares of company stock worth $195,420 and sold 14,527 shares worth $355,795. Company insiders own 1.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Quantamental Technologies LLC acquired a new position in Thermon Group during the 1st quarter worth approximately $29,000. Manchester Capital Management LLC bought a new stake in shares of Thermon Group during the first quarter worth $36,000. Meeder Asset Management Inc. bought a new stake in shares of Thermon Group during the second quarter worth $97,000. Marshall Wace North America L.P. bought a new stake in shares of Thermon Group during the first quarter worth $119,000. Finally, Bank of Montreal Can increased its holdings in shares of Thermon Group by 134.6% during the second quarter. Bank of Montreal Can now owns 4,718 shares of the technology company’s stock worth $121,000 after buying an additional 2,707 shares in the last quarter.

About Thermon Group

Thermon Group Holdings, Inc provides thermal engineered industrial process heating solutions for process industries in the United States, Canada, Europe, and Asia. Its products include various electric heat tracing cables, steam tracing components, tubing bundles, and instrument and control products, as well as complementary product lines.

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