Thermon Group (NYSE:THR) Cut to “Buy” at StockNews.com

Thermon Group (NYSE:THRGet Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

THR has been the subject of several other research reports. Zacks Investment Research cut Thermon Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. TheStreet raised Thermon Group from a “c” rating to a “b” rating in a research note on Friday, February 4th.

THR stock traded up $0.20 during trading hours on Thursday, hitting $15.71. 78,594 shares of the stock traded hands, compared to its average volume of 104,923. The stock has a 50-day simple moving average of $15.81 and a 200 day simple moving average of $16.91. Thermon Group has a one year low of $14.12 and a one year high of $20.35. The company has a market cap of $523.93 million, a P/E ratio of 44.89 and a beta of 1.34. The company has a current ratio of 3.11, a quick ratio of 2.18 and a debt-to-equity ratio of 0.32.

Several hedge funds and other institutional investors have recently made changes to their positions in THR. Brown Advisory Inc. purchased a new stake in shares of Thermon Group during the first quarter valued at $10,937,000. Heartland Advisors Inc. purchased a new stake in Thermon Group in the 4th quarter worth about $4,663,000. B. Riley Asset Management LLC purchased a new stake in Thermon Group in the 4th quarter worth about $4,371,000. Morgan Stanley lifted its stake in Thermon Group by 11,286.7% in the 2nd quarter. Morgan Stanley now owns 103,391 shares of the technology company’s stock worth $1,762,000 after acquiring an additional 102,483 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Thermon Group in the 3rd quarter worth about $1,674,000. 93.81% of the stock is owned by institutional investors and hedge funds.

Thermon Group Company Profile (Get Rating)

Thermon Group Holdings, Inc provides engineered industrial process heating solutions for process industries worldwide. Its products include electric heating products, such as air heaters and heating accessories, boilers and calorifiers, controlling and monitoring solutions, heat tracing systems, tank heating systems, thermostats, and system accessories, as well as band, strip, tubular, immersion, and process heaters; and gas heating products, including enclosure and explosion proof gas catalytic heaters, gas fired blowers, and has heating accessories that comprise regulators, valves, mounting brackets, and battery cables.

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