Thermon Group (NYSE:THR) Upgraded at StockNews.com

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

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

Thermon Group Price Performance

Thermon Group stock opened at $31.57 on Friday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 21.92 and a beta of 1.18. Thermon Group has a 1 year low of $20.56 and a 1 year high of $34.07. The business has a 50-day moving average of $29.11 and a 200-day moving average of $29.75. 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 posted its earnings results on Thursday, February 1st. The technology company reported $0.59 earnings per share (EPS) 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 company had revenue of $136.43 million during the quarter, compared to analyst estimates of $128.22 million. On average, equities analysts anticipate that Thermon Group will post 1.8 EPS for the current year.

Insider Activity at Thermon Group

In other Thermon Group news, Director Roger L. Fix acquired 1,555 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 28,273 shares of the company’s stock, valued at $726,616.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Thermon Group

Several institutional investors have recently bought and sold shares of THR. FMR LLC lifted its stake in Thermon Group by 99.0% in the 3rd quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock valued at $50,587,000 after acquiring an additional 916,248 shares in the last quarter. Wellington Management Group LLP lifted its stake in 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 valued at $47,382,000 after acquiring an additional 533,474 shares in the last quarter. BlackRock Inc. raised its stake in shares of Thermon Group by 14.4% during 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 in the last quarter. Millennium Management LLC raised its stake in shares of Thermon Group by 340.4% during 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 in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Thermon Group during the 1st quarter worth approximately $283,000. 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.