Thermon Group (NYSE:THR) Stock Rating Upgraded by StockNews.com

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

Separately, Roth Mkm started 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

Shares of THR opened at $32.73 on Tuesday. The company has a market cap of $1.10 billion, a PE ratio of 22.73 and a beta of 1.16. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $28.94 and a 200-day moving average price of $29.40. Thermon Group has a 12-month low of $20.56 and a 12-month high of $34.07.

Thermon Group (NYSE:THR) last issued its quarterly 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. The firm had revenue of $136.43 million during the quarter, compared to the consensus estimate of $128.22 million. Thermon Group had a return on equity of 14.60% and a net margin of 10.05%. As a group, equities analysts forecast that Thermon Group will post 1.8 earnings per share for the current fiscal year.

Insider Activity at Thermon Group

In other news, Director Roger L. Fix acquired 1,555 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average cost of $25.70 per share, with a total value of $39,963.50. Following the acquisition, the director now 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 is available through the SEC website. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Thermon Group

Large investors have recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new position in Thermon Group in the 2nd quarter worth approximately $30,000. Great West Life Assurance Co. Can increased its stake in Thermon Group by 134.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock worth $40,000 after purchasing an additional 1,332 shares during the period. Dark Forest Capital Management LP purchased a new position in Thermon Group in the 1st quarter worth approximately $44,000. Lazard Asset Management LLC purchased a new position in shares of Thermon Group during the first quarter valued at approximately $45,000. Finally, West Tower Group LLC purchased a new position in shares of Thermon Group during the second quarter valued at approximately $64,000. 99.76% of the stock is 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.