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

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

Separately, Roth Mkm began coverage on shares of Thermon Group in a report on Wednesday, March 6th. They set a buy rating and a $36.00 target price for the company.

Thermon Group Stock Performance

Shares of Thermon Group stock opened at $30.93 on Friday. 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 firm has a market cap of $1.04 billion, a P/E ratio of 21.48 and a beta of 1.18. The firm has a 50 day simple moving average of $29.24 and a 200 day simple moving average of $29.83. Thermon Group has a fifty-two week low of $20.56 and a fifty-two week high of $34.07.

Thermon Group (NYSE:THR) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.09. The business had revenue of $136.43 million during the quarter, compared to analyst estimates of $128.22 million. Thermon Group had a net margin of 10.05% and a return on equity of 14.60%. Sell-side analysts predict that Thermon Group will post 1.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Thermon Group news, Director Roger L. Fix bought 1,555 shares of the stock in a transaction on Tuesday, February 6th. The stock was purchased at an average price of $25.70 per share, with a total value of $39,963.50. Following the acquisition, the director now owns 28,273 shares of the company’s stock, valued at $726,616.10. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Thermon Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 acquiring an additional 21,971 shares in the last quarter. BlackRock Inc. lifted its position in Thermon Group by 14.4% in the 2nd quarter. BlackRock Inc. now owns 2,836,702 shares of the technology company’s stock valued at $75,456,000 after acquiring an additional 356,376 shares in the last quarter. FMR LLC increased 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 buying an additional 916,248 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Thermon Group by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,775,583 shares of the technology company’s stock valued at $57,833,000 after buying an additional 4,599 shares during the last quarter. Finally, Wellington Management Group LLP increased 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 buying an additional 533,474 shares during the last quarter. 99.76% of the stock is 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.