Thermon Group (NYSE:THR) Downgraded to Buy Rating by StockNews.com

Thermon Group (NYSE:THR) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

Thermon Group Stock Up 1.4 %

Shares of Thermon Group stock opened at $29.96 on Tuesday. Thermon Group has a twelve month low of $25.76 and a twelve month high of $35.93. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 22.03 and a beta of 1.10. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average price of $28.84 and a 200 day moving average price of $29.30.

Thermon Group (NYSE:THR) last issued its 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 return on equity of 11.72% and a net margin of 9.48%. Equities research analysts forecast that Thermon Group will post 1.88 earnings per share for the current fiscal year.

Insider Activity

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 value of $904,604.55. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Thermon Group

Institutional investors have recently made changes to their positions in the business. Medina Value Partners LLC acquired a new stake in shares of Thermon Group during the fourth quarter worth approximately $17,747,000. FMR LLC grew its holdings in Thermon Group by 10.0% during 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 in the last quarter. Wellington Management Group LLP grew its holdings in Thermon Group by 15.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company’s stock worth $39,526,000 after acquiring an additional 178,017 shares in the last quarter. Lightrock Netherlands B.V. bought a new stake in shares of Thermon Group in the 4th quarter worth about $4,995,000. Finally, Kennedy Capital Management LLC lifted its position in shares of Thermon Group by 55.6% during the fourth quarter. Kennedy Capital Management LLC now owns 333,640 shares of the technology company’s stock worth $9,599,000 after purchasing an additional 119,277 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.