Thermon Group (NYSE:THR) Stock Price Passes Above 200 Day Moving Average of $29.89

Thermon Group Holdings, Inc. (NYSE:THR) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $29.89 and traded as high as $29.95. Thermon Group shares last traded at $29.74, with a volume of 169,154 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on THR shares. StockNews.com upgraded shares of Thermon Group from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Roth Mkm began coverage on shares of Thermon Group in a research report on Wednesday, March 6th. They issued a “buy” rating and a $36.00 price objective on the stock.

Thermon Group Stock Performance

The company has a market cap of $1.00 billion, a PE ratio of 20.65 and a beta of 1.18. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35. The firm’s 50-day simple moving average is $29.61 and its two-hundred day simple moving average is $29.89.

Thermon Group (NYSE:THR) last released its earnings results on Thursday, February 1st. The technology company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.09. The company had revenue of $136.43 million for the quarter, compared to the consensus estimate of $128.22 million. Thermon Group had a net margin of 10.05% and a return on equity of 14.60%. As a group, research analysts anticipate that Thermon Group Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Roger L. Fix bought 1,555 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were bought at an average price of $25.70 per share, with a total value of $39,963.50. Following the transaction, the director now owns 28,273 shares in the company, valued at $726,616.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by insiders.

Institutional Trading of Thermon Group

Large investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can boosted its holdings in shares of Thermon Group by 134.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock valued at $40,000 after acquiring an additional 1,332 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Thermon Group in the 1st quarter valued at $44,000. Lazard Asset Management LLC acquired a new position in shares of Thermon Group in the 1st quarter valued at $45,000. UniSuper Management Pty Ltd acquired a new position in shares of Thermon Group in the 2nd quarter valued at $64,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Thermon Group by 243.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,393 shares of the technology company’s stock valued at $68,000 after purchasing an additional 3,113 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.

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.