Thermon Group (NYSE:THR) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Thermon Group Holdings, Inc. (NYSE:THR) crossed 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.

Wall Street Analysts Forecast Growth

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

Thermon Group Trading Up 4.1 %

The company has a market cap of $996.72 million, a PE ratio of 21.75 and a beta of 0.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56. The company has a 50 day simple moving average of $28.82 and a two-hundred day simple moving average of $29.23.

Thermon Group (NYSE:THR) last released its quarterly earnings data on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Thermon Group Holdings, Inc. will post 1.88 EPS for the current year.

Institutional Trading of Thermon Group

A number of institutional investors have recently bought and sold shares of THR. Franklin Resources Inc. lifted its stake in Thermon Group by 2.1% in the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock valued at $595,000 after acquiring an additional 422 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Thermon Group by 1.8% during the 3rd quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock worth $874,000 after purchasing an additional 506 shares during the last quarter. Quarry LP raised its holdings in shares of Thermon Group by 314.1% during the 4th quarter. Quarry LP now owns 853 shares of the technology company’s stock valued at $25,000 after purchasing an additional 647 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Thermon Group by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,977 shares of the technology company’s stock valued at $546,000 after purchasing an additional 678 shares during the last quarter. Finally, Riverpoint Wealth Management Holdings LLC boosted its holdings in Thermon Group by 1.7% in the fourth quarter. Riverpoint Wealth Management Holdings LLC now owns 47,862 shares of the technology company’s stock worth $1,377,000 after purchasing an additional 805 shares in the last quarter. Institutional investors and hedge funds 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.