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 report issued on Saturday morning.

Separately, Roth Mkm lifted their price target on Thermon Group from $36.00 to $38.00 and gave the stock a buy rating in a report on Thursday, May 30th.

Thermon Group Stock Up 0.3 %

THR stock opened at $28.93 on Friday. Thermon Group has a twelve month low of $23.76 and a twelve month high of $35.93. The company has a quick ratio of 1.73, a current ratio of 2.61 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average is $30.32 and its 200-day moving average is $30.98. The firm has a market capitalization of $979.89 million, a PE ratio of 19.29 and a beta of 1.06.

Thermon Group (NYSE:THR) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. Thermon Group had a return on equity of 13.26% and a net margin of 9.78%. The company had revenue of $115.10 million for the quarter, compared to analyst estimates of $115.99 million. During the same quarter last year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts expect that Thermon Group will post 1.98 EPS for the current fiscal year.

Institutional Trading of Thermon Group

A number of hedge funds have recently bought and sold shares of the business. Quest Partners LLC increased its position in Thermon Group by 2,375.0% in the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock worth $33,000 after buying an additional 1,045 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Thermon Group in the second quarter worth $40,000. Meeder Asset Management Inc. purchased a new stake in Thermon Group in the second quarter worth $60,000. EntryPoint Capital LLC increased its position in Thermon Group by 421.1% in the first quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company’s stock worth $207,000 after buying an additional 5,116 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Thermon Group by 9.8% in the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock worth $210,000 after buying an additional 608 shares during the last quarter. 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.