StockNews.com Downgrades Thermon Group (NYSE:THR) to Hold

StockNews.com lowered shares of Thermon Group (NYSE:THR) from a buy rating to a hold rating in a research note published on Friday morning.

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

Thermon Group Stock Performance

Shares of THR stock opened at $31.83 on Friday. Thermon Group has a 12-month low of $20.56 and a 12-month high of $34.07. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 22.10 and a beta of 1.18. The business has a 50 day simple moving average of $29.90 and a 200 day simple moving average of $30.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.22 and a quick ratio of 1.53.

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

Insider Buying and Selling at Thermon Group

In other news, Director Roger L. Fix purchased 1,555 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was purchased at an average cost of $25.70 per share, with a total value of $39,963.50. Following the purchase, the director now owns 28,273 shares in the company, valued at approximately $726,616.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Thermon Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in Thermon Group by 144.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,868 shares of the technology company’s stock valued at $257,000 after purchasing an additional 4,654 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Thermon Group by 39.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 25,636 shares of the technology company’s stock worth $839,000 after acquiring an additional 7,221 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Thermon Group during the 4th quarter worth $827,000. Vanguard Group Inc. boosted its stake in shares of 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 in the last quarter. Finally, Premier Fund Managers Ltd boosted its stake in shares of Thermon Group by 91.0% during the 4th quarter. Premier Fund Managers Ltd now owns 17,787 shares of the technology company’s stock worth $597,000 after acquiring an additional 8,473 shares in the last quarter. 99.76% of the stock is 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.