Thermon Group (NYSE:THR - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.
Separately, Roth Mkm started 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 for the company.
Check Out Our Latest Analysis on Thermon Group
Thermon Group Price Performance
Shares of NYSE:THR traded up $0.24 during trading on Friday, reaching $31.83. The company had a trading volume of 194,642 shares, compared to its average volume of 263,910. The company has a fifty day moving average of $29.90 and a two-hundred day moving average of $30.00. The stock has a market capitalization of $1.07 billion, a P/E ratio of 22.10 and a beta of 1.18. Thermon Group has a 12 month low of $20.56 and a 12 month high of $34.07. 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 - Get Free Report) last released its earnings results on Thursday, February 1st. The technology company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.50 by $0.09. Thermon Group had a net margin of 10.05% and a return on equity of 14.60%. The company had revenue of $136.43 million for the quarter, compared to analyst estimates of $128.22 million. Equities research analysts forecast that Thermon Group will post 1.8 earnings per share for the current year.
Insider Buying and Selling at Thermon Group
In other Thermon Group news, Director Roger L. Fix bought 1,555 shares of Thermon Group stock in a transaction dated Tuesday, February 6th. The shares were purchased at an average cost of $25.70 per share, for a total transaction of $39,963.50. Following the acquisition, the director now directly owns 28,273 shares in the company, valued at approximately $726,616.10. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.90% of the company's stock.
Institutional Investors Weigh In On Thermon Group
Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in Thermon Group by 144.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,868 shares of the technology company's stock worth $257,000 after purchasing an additional 4,654 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Thermon Group by 39.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 25,636 shares of the technology company's stock worth $839,000 after purchasing an additional 7,221 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Thermon Group in the 4th quarter valued at $827,000. Vanguard Group Inc. boosted its position in shares of Thermon Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 3,363,315 shares of the technology company's stock worth $109,543,000 after purchasing an additional 21,971 shares in the last quarter. Finally, Premier Fund Managers Ltd boosted its position in shares of Thermon Group by 91.0% in the 4th quarter. Premier Fund Managers Ltd now owns 17,787 shares of the technology company's stock worth $597,000 after purchasing an additional 8,473 shares in the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.
Thermon Group Company Profile
(
Get Free Report)
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.
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