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

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

THR has been the subject of a number of other research reports. Roth Mkm started coverage on shares of Thermon Group in a research report on Wednesday, March 6th. They set a “buy” rating and a $36.00 target price for the company. CJS Securities started coverage on shares of Thermon Group in a report on Monday, April 29th. They issued an “outperform” rating and a $42.00 target price on the stock.

Thermon Group Stock Performance

NYSE THR opened at $32.74 on Friday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 22.74 and a beta of 1.17. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.35. Thermon Group has a twelve month low of $20.56 and a twelve month high of $34.07. The stock has a fifty day simple moving average of $30.39 and a 200 day simple moving average of $30.15.

Thermon Group (NYSE:THR) last released its quarterly earnings results on Thursday, February 1st. The technology company reported $0.59 EPS for the quarter, beating 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 firm had revenue of $136.43 million for the quarter, compared to analyst estimates of $128.22 million. Sell-side analysts expect that Thermon Group will post 1.8 EPS for the current year.

Insiders Place Their Bets

In related news, Director Roger L. Fix purchased 1,555 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $25.70 per share, with a total value of $39,963.50. Following the completion of the purchase, 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 can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Thermon Group

A number of hedge funds have recently added to or reduced their stakes in THR. AJOVista LLC bought a new position in shares of Thermon Group in the 4th quarter worth $85,000. Quest Partners LLC bought a new position in shares of Thermon Group in the fourth quarter valued at $167,000. QRG Capital Management Inc. acquired a new position in shares of Thermon Group during the fourth quarter valued at about $238,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Thermon Group during the third quarter valued at about $248,000. Finally, Premier Fund Managers Ltd bought a new stake in shares of Thermon Group during the third quarter worth about $254,000. Institutional investors and hedge funds 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.