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 Friday morning.

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

Thermon Group Price Performance

Shares of NYSE:THR opened at $30.42 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.35. Thermon Group has a fifty-two week low of $20.56 and a fifty-two week high of $34.07. The firm has a 50-day simple moving average of $29.35 and a 200 day simple moving average of $29.85. The company has a market cap of $1.03 billion, a PE ratio of 21.13 and a beta of 1.18.

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

Insiders Place Their Bets

In other Thermon Group news, Director Roger L. Fix bought 1,555 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was bought at an average cost of $25.70 per share, with a total value of $39,963.50. Following the completion of the transaction, the director now directly owns 28,273 shares of the company’s stock, valued at approximately $726,616.10. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of Thermon Group

Hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can boosted its holdings 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 valued at $40,000 after purchasing an additional 1,332 shares during the period. Dark Forest Capital Management LP acquired a new stake in Thermon Group in the 1st quarter valued at about $44,000. Lazard Asset Management LLC bought a new position in shares of Thermon Group in the 1st quarter valued at about $45,000. UniSuper Management Pty Ltd bought a new position in shares of Thermon Group in the 2nd quarter valued at about $64,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Thermon Group by 243.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,393 shares of the technology company’s stock valued at $68,000 after purchasing an additional 3,113 shares during the last quarter. 99.76% of the stock is 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.