Thermon Group (NYSE:THR) Upgraded to "Strong-Buy" at Wall Street Zen

Thermon Group (NYSE:THR - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Thermon Group Stock Performance

Thermon Group stock traded up $0.78 during midday trading on Friday, hitting $26.54. The stock had a trading volume of 265,795 shares, compared to its average volume of 169,631. The company has a market capitalization of $893.96 million, a PE ratio of 19.51 and a beta of 1.07. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28. Thermon Group has a 52-week low of $23.05 and a 52-week high of $35.42. The firm's fifty day moving average is $27.01 and its two-hundred day moving average is $28.70.

Thermon Group (NYSE:THR - Get Free Report) last issued its earnings results on Thursday, May 22nd. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.06. The firm had revenue of $134.08 million during the quarter, compared to analyst estimates of $133.65 million. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. The business's revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. On average, research analysts forecast that Thermon Group will post 1.88 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Medina Value Partners LLC purchased a new stake in Thermon Group in the 4th quarter valued at about $17,747,000. Invesco Ltd. grew its position in shares of Thermon Group by 420.1% during the first quarter. Invesco Ltd. now owns 269,095 shares of the technology company's stock worth $7,494,000 after buying an additional 217,352 shares in the last quarter. Lightrock Netherlands B.V. purchased a new stake in Thermon Group during the fourth quarter worth approximately $4,995,000. Kennedy Capital Management LLC lifted its stake in Thermon Group by 55.6% during the fourth quarter. Kennedy Capital Management LLC now owns 333,640 shares of the technology company's stock worth $9,599,000 after purchasing an additional 119,277 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Thermon Group in the first quarter valued at approximately $2,577,000. Hedge funds and other institutional investors own 99.76% of the company's stock.

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.