Thermon Group (NYSE:THR) Upgraded to “Buy” by StockNews.com

Thermon Group (NYSE:THR) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

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

Thermon Group Price Performance

THR stock opened at $28.85 on Friday. Thermon Group has a 1 year low of $23.76 and a 1 year high of $35.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.73 and a current ratio of 2.61. The stock’s 50 day moving average price is $30.33 and its 200 day moving average price is $30.92. The firm has a market cap of $975.13 million, a P/E ratio of 19.23 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 (EPS) 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 firm had revenue of $115.10 million for the quarter, compared to analyst estimates of $115.99 million. During the same quarter in the prior year, the company earned $0.40 EPS. Thermon Group’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that Thermon Group will post 1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Algert Global LLC lifted its stake in shares of Thermon Group by 156.4% during the 2nd quarter. Algert Global LLC now owns 30,483 shares of the technology company’s stock worth $938,000 after purchasing an additional 18,593 shares during the period. Meros Investment Management LP boosted its position in Thermon Group by 1.6% in the 2nd quarter. Meros Investment Management LP now owns 209,800 shares of the technology company’s stock valued at $6,453,000 after buying an additional 3,400 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Thermon Group by 4.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock valued at $523,000 after buying an additional 682 shares during the last quarter. Dark Forest Capital Management LP boosted its position in Thermon Group by 71.3% in the 2nd quarter. Dark Forest Capital Management LP now owns 12,936 shares of the technology company’s stock valued at $398,000 after buying an additional 5,384 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Thermon Group in the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

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 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.