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

StockNews.com upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a research report released on Tuesday morning.

Separately, Roth Mkm initiated coverage on shares of Thermon Group in a research report on Wednesday, March 6th. They issued a buy rating and a $36.00 target price for the company.

Thermon Group Trading Up 2.7 %

THR stock opened at $32.73 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.22 and a quick ratio of 1.53. The company has a fifty day moving average price of $28.94 and a two-hundred day moving average price of $29.40. Thermon Group has a one year low of $20.56 and a one year high of $34.07. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 22.73 and a beta of 1.16.

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

Insider Activity at Thermon Group

In related news, Director Roger L. Fix purchased 1,555 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was acquired at an average price of $25.70 per share, with a total value of $39,963.50. Following the completion of the purchase, the director now directly owns 28,273 shares in the company, valued at $726,616.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC acquired a new position in Thermon Group in the second quarter valued at about $30,000. Dark Forest Capital Management LP acquired a new position in Thermon Group in the first quarter valued at about $44,000. Great West Life Assurance Co. Can raised its stake in Thermon Group by 134.3% in the first quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock valued at $40,000 after purchasing an additional 1,332 shares in the last quarter. UniSuper Management Pty Ltd acquired a new position in Thermon Group during the second quarter worth about $64,000. Finally, West Tower Group LLC acquired a new position in Thermon Group during the second quarter worth about $64,000. Institutional investors and hedge funds 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.