Thermon Group (NYSE:THR) Stock Price Passes Above 200 Day Moving Average of $29.89

Thermon Group Holdings, Inc. (NYSE:THR)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $29.89 and traded as high as $29.95. Thermon Group shares last traded at $29.74, with a volume of 169,154 shares.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com raised shares of Thermon Group from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Roth Mkm assumed coverage on shares of Thermon Group in a research report on Wednesday, March 6th. They set a “buy” rating and a $36.00 price target on the stock.

Thermon Group Stock Up 0.3 %

The company has a market cap of $1.00 billion, a P/E ratio of 20.65 and a beta of 1.18. The stock’s 50-day moving average price is $29.61 and its 200-day moving average price is $29.89. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35.

Thermon Group (NYSE:THR) last released its quarterly earnings data on Thursday, February 1st. The technology company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.09. The company had revenue of $136.43 million for the quarter, compared to analysts’ expectations of $128.22 million. Thermon Group had a net margin of 10.05% and a return on equity of 14.60%. As a group, research analysts forecast that Thermon Group Holdings, Inc. will post 1.8 EPS for the current year.

Insider Buying and Selling

In other Thermon Group news, Director Roger L. Fix bought 1,555 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average price of $25.70 per share, for a total transaction of $39,963.50. Following the acquisition, the director now directly owns 28,273 shares of the company’s stock, valued at approximately $726,616.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Thermon Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its stake in Thermon Group by 134.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,324 shares of the technology company’s stock valued at $40,000 after buying an additional 1,332 shares during the last quarter. Dark Forest Capital Management LP bought a new position in shares of Thermon Group during the 1st quarter valued at approximately $44,000. Lazard Asset Management LLC bought a new position in shares of Thermon Group during the 1st quarter valued at approximately $45,000. UniSuper Management Pty Ltd bought a new position in shares of Thermon Group during the 2nd quarter valued at approximately $64,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Thermon Group by 243.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,393 shares of the technology company’s stock valued at $68,000 after acquiring an additional 3,113 shares during the period. Hedge funds and other 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 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.