Thermon Group (NYSE:THR) Downgraded by StockNews.com

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

Separately, Roth Mkm began coverage on Thermon Group in a research report on Wednesday, March 6th. They issued a buy rating and a $36.00 price target on the stock.

Thermon Group Stock Up 0.8 %

THR opened at $31.83 on Friday. The business has a 50 day moving average price of $29.98 and a 200 day moving average price of $30.04. Thermon Group has a twelve month low of $20.56 and a twelve month high of $34.07. 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 firm has a market cap of $1.07 billion, a P/E ratio of 22.10 and a beta of 1.18.

Thermon Group (NYSE:THR) last posted its earnings results on Thursday, February 1st. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.09. Thermon Group had a return on equity of 14.60% and a net margin of 10.05%. The firm had revenue of $136.43 million during the quarter, compared to analyst estimates of $128.22 million. Research analysts forecast 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 purchased 1,555 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 28,273 shares in the company, valued at approximately $726,616.10. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Thermon Group

Institutional investors and hedge funds have recently modified their holdings of the company. AJOVista LLC bought a new stake in shares of Thermon Group during the fourth quarter valued at approximately $85,000. Quest Partners LLC acquired a new stake in Thermon Group in the 4th quarter valued at $167,000. QRG Capital Management Inc. acquired a new stake in Thermon Group in the 4th quarter valued at $238,000. Allspring Global Investments Holdings LLC boosted its stake in Thermon Group by 144.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,868 shares of the technology company’s stock valued at $257,000 after buying an additional 4,654 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Thermon Group in the 4th quarter valued at $276,000. 99.76% of the stock is currently 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.