Thermon Group (NYSE:THR) Upgraded to Buy at StockNews.com

Thermon Group (NYSE:THR) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research firms have also recently commented on THR. CJS Securities began coverage on Thermon Group in a research report on Monday, April 29th. They set an “outperform” rating and a $42.00 price objective for the company. Roth Mkm initiated coverage on shares of Thermon Group in a research report on Wednesday, March 6th. They set a “buy” rating and a $36.00 price target for the company.

Thermon Group Price Performance

THR opened at $32.74 on Friday. The company’s 50-day simple moving average is $30.39 and its two-hundred day simple moving average is $30.15. Thermon Group has a 52-week low of $20.56 and a 52-week high of $34.07. The stock has a market capitalization of $1.10 billion, a P/E ratio of 22.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.53 and a current ratio of 2.22.

Thermon Group (NYSE:THR) last posted its earnings results on Thursday, February 1st. The technology company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. The business had revenue of $136.43 million during 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, analysts predict that Thermon Group will post 1.8 EPS for the current year.

Insider Activity

In related news, Director Roger L. Fix purchased 1,555 shares of Thermon Group stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $25.70 per share, for a total transaction of $39,963.50. Following the completion of the transaction, the director now directly owns 28,273 shares in the company, valued at approximately $726,616.10. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in THR. Vanguard Group Inc. raised its stake in Thermon Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 3,363,315 shares of the technology company’s stock worth $109,543,000 after acquiring an additional 21,971 shares during the period. FMR LLC lifted its stake in shares of Thermon Group by 99.0% during the 3rd quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock valued at $50,587,000 after buying an additional 916,248 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Thermon Group by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,775,583 shares of the technology company’s stock worth $57,833,000 after buying an additional 4,599 shares during the period. Wellington Management Group LLP increased its stake in 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 buying an additional 533,474 shares in the last quarter. Finally, Brown Advisory Inc. raised its holdings in Thermon Group by 3.1% during the third quarter. Brown Advisory Inc. now owns 976,501 shares of the technology company’s stock valued at $26,824,000 after acquiring an additional 28,946 shares during the period. 99.76% of the stock is currently owned by 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.