Thermon Group (NYSE:THR) Raised to “Buy” at StockNews.com

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

Several other research firms have also recently weighed in on THR. CJS Securities initiated coverage on Thermon Group in a research report on Monday, April 29th. They set an outperform rating and a $42.00 price objective on the stock. 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 target on the stock.

Thermon Group Stock Performance

Shares of THR stock opened at $33.53 on Friday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 23.28 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.53 and a current ratio of 2.22. Thermon Group has a 52 week low of $20.67 and a 52 week high of $34.07. The company has a 50-day simple moving average of $30.71 and a 200 day simple moving average of $30.31.

Institutional Investors Weigh In On Thermon Group

A number of large investors have recently modified their holdings of THR. FMR LLC lifted its holdings in shares of Thermon Group by 99.0% in the third quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock worth $50,587,000 after acquiring an additional 916,248 shares during the last quarter. Wellington Management Group LLP raised its holdings in Thermon Group by 44.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,724,846 shares of the technology company’s stock valued at $47,382,000 after buying an additional 533,474 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Thermon Group by 595.9% during the 4th quarter. Wells Fargo & Company MN now owns 300,880 shares of the technology company’s stock worth $9,800,000 after acquiring an additional 257,646 shares during the last quarter. Meros Investment Management LP bought a new position in shares of Thermon Group during the third quarter valued at $2,335,000. Finally, Federated Hermes Inc. lifted its holdings in shares of 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 period. Institutional investors and hedge funds own 99.76% of the company’s stock.

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.