Thermon Group (NYSE:THR) Coverage Initiated by Analysts at CJS Securities

CJS Securities started coverage on shares of Thermon Group (NYSE:THR) in a research note published on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $42.00 price target on the technology company’s stock.

A number of other equities analysts have also issued reports on the company. StockNews.com lowered Thermon Group from a buy rating to a hold rating in a research report on Friday. Roth Mkm started coverage on shares of Thermon Group in a report on Wednesday, March 6th. They issued a buy rating and a $36.00 price target on the stock.

Thermon Group Price Performance

Shares of THR stock opened at $32.43 on Monday. Thermon Group has a twelve month low of $20.56 and a twelve month high of $34.07. The company has a market capitalization of $1.09 billion, a PE ratio of 22.52 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 has a fifty day simple moving average of $29.98 and a 200-day simple moving average of $30.05.

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

Insiders Place Their Bets

In other news, Director Roger L. Fix purchased 1,555 shares of the stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $25.70 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in Thermon Group by 99.0% in the third quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock worth $50,587,000 after acquiring an additional 916,248 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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 worth $47,382,000 after purchasing an additional 533,474 shares during the last quarter. Wells Fargo & Company MN boosted its position in Thermon Group by 595.9% during the 4th quarter. Wells Fargo & Company MN now owns 300,880 shares of the technology company’s stock valued at $9,800,000 after purchasing an additional 257,646 shares during the period. Meros Investment Management LP bought a new position in Thermon Group during the 3rd quarter worth $2,335,000. Finally, Federated Hermes Inc. increased its position in Thermon Group by 44.0% in the third quarter. Federated Hermes Inc. now owns 258,039 shares of the technology company’s stock worth $7,088,000 after buying an additional 78,826 shares during the period. 99.76% of the stock is owned by institutional investors and hedge funds.

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.