Thermon Group (NYSE:THR) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Thermon Group (NYSE:THR) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.

Thermon Group Price Performance

Thermon Group stock opened at $27.56 on Friday. The business’s 50 day simple moving average is $29.48 and its 200 day simple moving average is $29.49. Thermon Group has a 12 month low of $25.76 and a 12 month high of $35.93. The company has a market cap of $928.46 million, a price-to-earnings ratio of 20.26 and a beta of 1.10. The company has a current ratio of 2.80, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29.

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

Insider Activity at Thermon Group

In related news, SVP David Buntin sold 28,137 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $32.15, for a total transaction of $904,604.55. Following the sale, the senior vice president now owns 57,773 shares of the company’s stock, valued at approximately $1,857,401.95. This represents a 32.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Thermon Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. purchased a new position in Thermon Group during the third quarter valued at approximately $481,000. Barclays PLC raised its position in shares of Thermon Group by 312.1% in the third quarter. Barclays PLC now owns 54,149 shares of the technology company’s stock worth $1,616,000 after buying an additional 41,009 shares in the last quarter. Wellington Management Group LLP boosted its stake in Thermon Group by 15.5% during the third quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company’s stock valued at $39,526,000 after buying an additional 178,017 shares during the period. JPMorgan Chase & Co. grew its position in Thermon Group by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 274,227 shares of the technology company’s stock worth $8,183,000 after buying an additional 27,235 shares in the last quarter. Finally, FMR LLC increased its stake in Thermon Group by 10.0% in the 3rd quarter. FMR LLC now owns 2,186,280 shares of the technology company’s stock worth $65,239,000 after acquiring an additional 198,642 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors.

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 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.