Thermon Group (NYSE:THR) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Thermon Group Holdings, Inc. (NYSE:THR) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $30.32 and traded as high as $30.96. Thermon Group shares last traded at $30.77, with a volume of 243,436 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Thermon Group from a “hold” rating to a “buy” rating in a report on Saturday, September 14th.

Thermon Group Price Performance

The company has a market capitalization of $1.05 billion, a PE ratio of 24.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80. The stock has a 50 day moving average price of $28.73 and a two-hundred day moving average price of $30.33.

Thermon Group (NYSE:THR) last posted its earnings results on Thursday, November 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $114.60 million during the quarter, compared to analysts’ expectations of $116.19 million. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. The company’s revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. Equities analysts forecast that Thermon Group Holdings, Inc. will post 1.79 earnings per share for the current year.

Institutional Trading of Thermon Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Westwood Holdings Group Inc. bought a new position in shares of Thermon Group in the 1st quarter valued at approximately $20,415,000. Swedbank AB bought a new position in shares of Thermon Group in the first quarter valued at approximately $20,254,000. FMR LLC lifted its stake in shares of Thermon Group by 10.0% in the third quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock worth $65,239,000 after buying an additional 198,642 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Thermon Group by 15.5% in the third quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company’s stock worth $39,526,000 after buying an additional 178,017 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Thermon Group by 358.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 195,000 shares of the technology company’s stock worth $5,998,000 after buying an additional 152,500 shares during the period. 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 offers 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.