Thermon Group (NYSE:THR) Cut to Buy at StockNews.com

StockNews.com lowered shares of Thermon Group (NYSE:THR) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.

Thermon Group Stock Down 2.3 %

THR opened at $29.29 on Tuesday. 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 market cap of $986.61 million, a price-to-earnings ratio of 21.53 and a beta of 1.10. Thermon Group has a one year low of $25.76 and a one year high of $35.93. The business’s fifty day moving average is $28.84 and its two-hundred day moving average is $29.30.

Thermon Group (NYSE:THR) last announced its earnings results on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. Analysts anticipate that Thermon Group will post 1.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP David Buntin sold 28,137 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $32.15, for a total transaction of $904,604.55. Following the sale, the senior vice president now owns 57,773 shares in the company, valued at approximately $1,857,401.95. This trade represents a 32.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Thermon Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. grew its position in Thermon Group by 2.1% during 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 period. D.A. Davidson & CO. lifted its stake in shares of Thermon Group by 1.8% in the 3rd quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock valued at $874,000 after purchasing an additional 506 shares in the last quarter. Quarry LP grew 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 worth $25,000 after purchasing an additional 647 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Thermon Group by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,977 shares of the technology company’s stock worth $546,000 after purchasing an additional 678 shares in the last quarter. Finally, Riverpoint Wealth Management Holdings LLC increased its position in Thermon Group by 1.7% during the 3rd quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company’s stock worth $1,404,000 after purchasing an additional 798 shares in the last quarter. 99.76% of the stock is currently 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.