Thermon Group (NYSE:THR) Downgraded to “Hold” at StockNews.com

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

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

Thermon Group Trading Up 0.8 %

THR opened at $31.83 on Friday. Thermon Group has a one year low of $20.56 and a one year high of $34.07. The company has a market cap of $1.07 billion, a P/E ratio of 22.10 and a beta of 1.18. 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 business’s 50-day simple moving average is $29.90 and its 200-day simple moving average is $30.00.

Thermon Group (NYSE:THR) last released its quarterly earnings results on Thursday, February 1st. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. The firm had revenue of $136.43 million for 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 research analysts expect that Thermon Group will post 1.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Thermon Group news, Director Roger L. Fix purchased 1,555 shares of Thermon Group stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $25.70 per share, with a total value of $39,963.50. Following the acquisition, the director now directly owns 28,273 shares of the company’s stock, valued at $726,616.10. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Trading of Thermon Group

Several hedge funds have recently modified their holdings of THR. FMR LLC lifted its holdings in shares of Thermon Group by 99.0% in the 3rd quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock valued at $50,587,000 after buying an additional 916,248 shares during the period. Wellington Management Group LLP raised its holdings in Thermon Group by 44.8% during the third quarter. Wellington Management Group LLP now owns 1,724,846 shares of the technology company’s stock worth $47,382,000 after purchasing an additional 533,474 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Thermon Group by 595.9% during the fourth quarter. Wells Fargo & Company MN now owns 300,880 shares of the technology company’s stock worth $9,800,000 after purchasing an additional 257,646 shares during the last quarter. Meros Investment Management LP acquired a new position in Thermon Group during the third quarter worth $2,335,000. Finally, Federated Hermes Inc. raised its holdings in Thermon Group by 44.0% during the third quarter. Federated Hermes Inc. now owns 258,039 shares of the technology company’s stock worth $7,088,000 after purchasing an additional 78,826 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.