Thermon Group (NYSE:THR) Raised to Strong-Buy at StockNews.com

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

Thermon Group Trading Up 3.9 %

THR traded up $1.04 during mid-day trading on Friday, reaching $27.56. The stock had a trading volume of 304,863 shares, compared to its average volume of 146,003. The firm’s fifty day simple moving average is $29.48 and its two-hundred day simple moving average is $29.49. The stock has a market capitalization of $928.46 million, a P/E ratio of 21.53 and a beta of 1.10. Thermon Group has a 52 week low of $25.76 and a 52 week high of $35.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80.

Thermon Group (NYSE:THR) last issued its quarterly 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 net margin of 8.89% and a return on equity of 12.08%. On average, equities analysts predict that Thermon Group will post 1.79 EPS for the current year.

Insider Transactions at Thermon Group

In other news, SVP David Buntin sold 28,137 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $32.15, for a total transaction of $904,604.55. Following the completion of the sale, the senior vice president now directly owns 57,773 shares in the company, valued at approximately $1,857,401.95. This represents a 32.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Thermon Group

Institutional investors have recently modified their holdings of the business. Assetmark Inc. acquired a new position in shares of Thermon Group during the fourth quarter worth $26,000. Venturi Wealth Management LLC acquired a new position in Thermon Group during the 4th quarter worth about $47,000. AlphaQuest LLC grew its position in shares of Thermon Group by 57,825.0% in the 4th quarter. AlphaQuest LLC now owns 2,317 shares of the technology company’s stock valued at $67,000 after buying an additional 2,313 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Thermon Group by 4,731.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,865 shares of the technology company’s stock worth $111,000 after acquiring an additional 3,785 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new position in shares of Thermon Group in the fourth quarter worth approximately $227,000. 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.