Thermon Group (NYSE:THR) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a report published on Saturday.

Separately, Roth Mkm increased their price objective on Thermon Group from $36.00 to $38.00 and gave the company a buy rating in a research report on Thursday, May 30th.

Thermon Group Stock Up 2.6 %

Shares of Thermon Group stock opened at $28.85 on Friday. Thermon Group has a 1-year low of $23.76 and a 1-year high of $35.93. The business’s fifty day moving average price is $30.32 and its two-hundred day moving average price is $30.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.73. The company has a market capitalization of $975.13 million, a P/E ratio of 19.23 and a beta of 1.06.

Thermon Group (NYSE:THR) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.07. Thermon Group had a return on equity of 13.26% and a net margin of 9.78%. The company had revenue of $115.10 million for the quarter, compared to the consensus estimate of $115.99 million. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that Thermon Group will post 1.98 EPS for the current year.

Hedge Funds Weigh In On Thermon Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in Thermon Group by 17.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 303,493 shares of the technology company’s stock valued at $9,885,000 after buying an additional 44,321 shares during the period. First Eagle Investment Management LLC acquired a new stake in shares of Thermon Group during the first quarter worth approximately $1,391,000. Swedbank AB purchased a new position in Thermon Group during the first quarter valued at approximately $20,254,000. New South Capital Management Inc. lifted its position in Thermon Group by 10.5% in the 1st quarter. New South Capital Management Inc. now owns 734,185 shares of the technology company’s stock worth $24,023,000 after buying an additional 69,666 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Thermon Group by 169.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 200,354 shares of the technology company’s stock valued at $6,163,000 after acquiring an additional 125,903 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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.