Thermon Group (NYSE:THR) Trading Up 5.7% – Time to Buy?

Thermon Group Holdings, Inc. (NYSE:THR) shares were up 5.7% during mid-day trading on Tuesday . The stock traded as high as $30.22 and last traded at $30.17. Approximately 170,505 shares changed hands during trading, an increase of 13% from the average daily volume of 150,759 shares. The stock had previously closed at $28.54.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Thermon Group from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Thermon Group Stock Performance

The firm has a market capitalization of $1.02 billion, a P/E ratio of 22.33 and a beta of 1.10. The firm has a 50-day moving average price of $29.33 and a two-hundred day moving average price of $29.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.77% and a net margin of 9.48%. On average, analysts forecast that Thermon Group Holdings, Inc. will post 1.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $32.15, for a total value of $904,604.55. Following the completion of the transaction, the senior vice president now directly owns 57,773 shares of the company’s stock, valued at approximately $1,857,401.95. The trade was a 32.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Thermon Group

A number of institutional investors and hedge funds have recently made changes to their positions in THR. Franklin Resources Inc. grew its holdings in shares of Thermon Group by 2.1% during the 3rd quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock worth $595,000 after purchasing an additional 422 shares during the period. D.A. Davidson & CO. boosted its holdings in Thermon Group by 1.8% during the 3rd quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock valued at $874,000 after acquiring an additional 506 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Thermon Group by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock valued at $523,000 after acquiring an additional 682 shares during the period. Riverpoint Wealth Management Holdings LLC boosted its holdings in Thermon Group by 1.7% during the 3rd quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company’s stock valued at $1,404,000 after acquiring an additional 798 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Thermon Group by 1.7% during the 4th quarter. American Century Companies Inc. now owns 49,926 shares of the technology company’s stock valued at $1,436,000 after acquiring an additional 857 shares during the period. 99.76% of the stock is currently owned by hedge funds and other 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 offers 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.