Thermon Group (NYSE:THR) Upgraded at StockNews.com

Thermon Group (NYSE:THR - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Friday.

Separately, Roth Mkm began coverage on shares of Thermon Group in a research report on Wednesday, March 6th. They set a "buy" rating and a $36.00 target price for the company.

Thermon Group Price Performance

Shares of NYSE THR traded down $0.64 during midday trading on Friday, hitting $30.94. The company had a trading volume of 152,284 shares, compared to its average volume of 278,611. The company has a quick ratio of 1.53, a current ratio of 2.22 and a debt-to-equity ratio of 0.35. Thermon Group has a twelve month low of $20.56 and a twelve month high of $34.07. The business has a 50-day simple moving average of $29.24 and a two-hundred day simple moving average of $29.79. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 21.48 and a beta of 1.18.

Thermon Group (NYSE:THR - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $136.43 million during the quarter, compared to analysts' expectations of $128.22 million. Equities research analysts anticipate that Thermon Group will post 1.8 earnings per share for the current year.

Insiders Place Their Bets

In other Thermon Group news, Director Roger L. Fix bought 1,555 shares of the business's stock in a transaction on Tuesday, February 6th. The stock was bought at an average price of $25.70 per share, for a total transaction of $39,963.50. Following the completion of the transaction, the director now owns 28,273 shares in the company, valued at approximately $726,616.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Thermon Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of Thermon Group by 4.5% during the second quarter. Legal & General Group Plc now owns 14,028 shares of the technology company's stock worth $197,000 after buying an additional 600 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Thermon Group by 7.6% during the third quarter. Lazard Asset Management LLC now owns 8,950 shares of the technology company's stock worth $245,000 after buying an additional 629 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Thermon Group by 4.4% during the fourth quarter. Franklin Resources Inc. now owns 16,514 shares of the technology company's stock worth $538,000 after buying an additional 702 shares in the last quarter. Meros Investment Management LP grew its holdings in Thermon Group by 1.2% in the fourth quarter. Meros Investment Management LP now owns 86,015 shares of the technology company's stock valued at $2,802,000 after purchasing an additional 995 shares during the period. Finally, Swiss National Bank grew its holdings in Thermon Group by 1.5% in the third quarter. Swiss National Bank now owns 74,100 shares of the technology company's stock valued at $2,036,000 after purchasing an additional 1,100 shares during the period. 99.76% of the stock is currently owned by hedge funds and other 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 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.