Thermon Group (NYSE:THR) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Thermon Group Holdings, Inc. (NYSE:THR) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $29.23 and traded as high as $29.62. Thermon Group shares last traded at $29.59, with a volume of 322,223 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Thermon Group Price Performance

The firm’s 50-day moving average is $28.83 and its two-hundred day moving average is $29.22. The company has a market cap of $996.72 million, a P/E ratio of 21.75 and a beta of 0.98. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. Analysts anticipate that Thermon Group Holdings, Inc. will post 1.88 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP increased its position in Thermon Group by 314.1% during the fourth quarter. Quarry LP now owns 853 shares of the technology company’s stock valued at $25,000 after acquiring an additional 647 shares during the last quarter. Assetmark Inc. bought a new position in Thermon Group during the fourth quarter valued at $26,000. Venturi Wealth Management LLC bought a new position in Thermon Group during the fourth quarter valued at $47,000. AlphaQuest LLC increased its position in Thermon Group by 57,825.0% during the fourth quarter. AlphaQuest LLC now owns 2,317 shares of the technology company’s stock valued at $67,000 after acquiring an additional 2,313 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Thermon Group by 4,731.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,865 shares of the technology company’s stock valued at $111,000 after acquiring an additional 3,785 shares during the last quarter. Institutional investors own 99.76% of the company’s stock.

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.