Thermon Group (NYSE:THR) Stock Rating Lowered by StockNews.com

Thermon Group (NYSE:THR) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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

Thermon Group Stock Up 0.8 %

Thermon Group stock opened at $31.83 on Friday. Thermon Group has a 1-year low of $20.56 and a 1-year high of $34.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.22 and a quick ratio of 1.53. The stock has a market cap of $1.07 billion, a PE ratio of 22.10 and a beta of 1.18. The stock’s fifty day moving average is $29.98 and its two-hundred day moving average is $30.03.

Thermon Group (NYSE:THR) last posted its earnings results on Thursday, February 1st. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. Thermon Group had a return on equity of 14.60% and a net margin of 10.05%. The business had revenue of $136.43 million for the quarter, compared to analysts’ expectations of $128.22 million. On average, sell-side analysts expect 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 company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average price of $25.70 per share, for a total transaction of $39,963.50. Following the transaction, the director now directly owns 28,273 shares of the company’s stock, valued at approximately $726,616.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Thermon Group

Several institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased 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 acquiring an additional 4,654 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in Thermon Group by 39.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 25,636 shares of the technology company’s stock valued at $839,000 after purchasing an additional 7,221 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Thermon Group in the 4th quarter valued at approximately $827,000. Vanguard Group Inc. boosted its holdings in Thermon Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 3,363,315 shares of the technology company’s stock valued at $109,543,000 after purchasing an additional 21,971 shares in the last quarter. Finally, Premier Fund Managers Ltd boosted its holdings in Thermon Group by 91.0% in the 4th quarter. Premier Fund Managers Ltd now owns 17,787 shares of the technology company’s stock valued at $597,000 after purchasing an additional 8,473 shares in the last quarter. 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.