Thermon Group (NYSE:THR) Rating Increased to Buy at StockNews.com

Thermon Group (NYSE:THR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts have also weighed in on the company. CJS Securities began coverage on Thermon Group in a research note on Monday, April 29th. They set an “outperform” rating and a $42.00 price objective on the stock. Roth Mkm initiated coverage on shares of 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

NYSE:THR opened at $32.74 on Friday. Thermon Group has a twelve month low of $20.56 and a twelve month high of $34.07. The company has a market cap of $1.10 billion, a P/E ratio of 22.74 and a beta of 1.17. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $30.48 and its 200-day moving average price is $30.22.

Thermon Group (NYSE:THR) last issued 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. The business had revenue of $136.43 million for the quarter, compared to analysts’ expectations of $128.22 million. Thermon Group had a return on equity of 14.60% and a net margin of 10.05%. On average, sell-side analysts forecast that Thermon Group will post 1.8 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Thermon Group

A number of hedge funds have recently made changes to their positions in the stock. AJOVista LLC purchased a new stake in Thermon Group during the fourth quarter worth about $85,000. Quest Partners LLC purchased a new stake in Thermon Group during the 4th quarter worth approximately $167,000. QRG Capital Management Inc. acquired a new stake in Thermon Group during the 4th quarter worth approximately $238,000. Allspring Global Investments Holdings LLC boosted its position 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 during the period. Finally, Jump Financial LLC acquired a new position in shares of Thermon Group in the fourth quarter worth $276,000. Hedge funds and other institutional investors 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.