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

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

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

Thermon Group Price Performance

Shares of NYSE:THR opened at $30.94 on Friday. The company has a 50 day moving average of $29.24 and a 200 day moving average of $29.79. The stock has a market cap of $1.04 billion, a P/E ratio of 21.48 and a beta of 1.18. Thermon Group has a 12 month low of $20.56 and a 12 month high of $34.07. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35.

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

Insider Transactions at Thermon Group

In related news, Director Roger L. Fix purchased 1,555 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average price 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 document filed with the SEC, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Thermon Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in Thermon Group by 99.0% during 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 lifted its position in shares of 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 worth $47,382,000 after purchasing an additional 533,474 shares during the period. BlackRock Inc. lifted its position in shares of Thermon Group by 14.4% in the 2nd quarter. BlackRock Inc. now owns 2,836,702 shares of the technology company’s stock worth $75,456,000 after purchasing an additional 356,376 shares during the period. Millennium Management LLC lifted its position in shares of Thermon Group by 340.4% in the 4th quarter. Millennium Management LLC now owns 363,465 shares of the technology company’s stock worth $7,298,000 after purchasing an additional 280,942 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Thermon Group in the 1st quarter worth about $283,000. Institutional investors own 99.76% of the company’s stock.

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.