Thermon Group (NYSE:THR) Stock Rating Lowered 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 Performance

NYSE THR traded up $1.16 during trading on Tuesday, hitting $29.57. The company’s stock had a trading volume of 227,999 shares, compared to its average volume of 165,364. Thermon Group has a 52 week low of $25.76 and a 52 week high of $35.93. The firm has a market cap of $996.31 million, a P/E ratio of 21.74 and a beta of 1.10. The firm has a 50 day moving average price of $28.83 and a 200 day moving average price of $29.30. The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.28.

Thermon Group (NYSE:THR) last announced its quarterly earnings data on Thursday, February 6th. The technology company reported $0.56 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that Thermon Group will post 1.88 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP David Buntin sold 28,137 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 57,773 shares in the company, valued at approximately $1,857,401.95. The trade was a 32.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of THR. Franklin Resources Inc. raised its stake in shares of Thermon Group by 2.1% in the 3rd quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock valued at $595,000 after buying an additional 422 shares in the last quarter. D.A. Davidson & CO. increased its stake in Thermon Group by 1.8% in the third quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock valued at $874,000 after acquiring an additional 506 shares during the period. Quarry LP raised its position in Thermon Group by 314.1% in the fourth quarter. Quarry LP now owns 853 shares of the technology company’s stock worth $25,000 after purchasing an additional 647 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Thermon Group by 3.7% during the fourth 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 during the period. Finally, Riverpoint Wealth Management Holdings LLC boosted its holdings in Thermon Group by 1.7% during the third quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company’s stock valued at $1,404,000 after purchasing an additional 798 shares in the last quarter. 99.76% of the stock is owned by institutional investors.

About Thermon Group

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.