Thermon Group (NYSE:THR) Lowered to “Hold” at StockNews.com

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

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

Thermon Group Trading Up 0.8 %

Shares of NYSE:THR opened at $31.83 on Friday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 22.10 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 company has a debt-to-equity ratio of 0.35, a quick ratio of 1.53 and a current ratio of 2.22. The company has a 50 day moving average price of $29.98 and a 200 day moving average price of $30.03.

Thermon Group (NYSE:THR) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. Thermon Group had a net margin of 10.05% and a return on equity of 14.60%. The firm had revenue of $136.43 million during the quarter, compared to analyst estimates of $128.22 million. On average, research analysts anticipate that Thermon Group will post 1.8 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Thermon Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank lifted its position in Thermon Group by 1.5% in the 3rd quarter. Swiss National Bank now owns 74,100 shares of the technology company’s stock worth $2,036,000 after buying an additional 1,100 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Thermon Group by 8.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,586 shares of the technology company’s stock valued at $508,000 after purchasing an additional 1,238 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Thermon Group by 13.9% during the 4th quarter. New York State Common Retirement Fund now owns 14,692 shares of the technology company’s stock valued at $479,000 after purchasing an additional 1,796 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Thermon Group by 16.6% during the 4th quarter. Principal Financial Group Inc. now owns 14,074 shares of the technology company’s stock valued at $458,000 after purchasing an additional 2,006 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Thermon Group by 0.7% during the 3rd quarter. Deutsche Bank AG now owns 328,402 shares of the technology company’s stock valued at $9,021,000 after purchasing an additional 2,377 shares in the last quarter. Hedge funds and other institutional investors own 99.76% of the company’s stock.

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.