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

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

Thermon Group Trading Up 2.3%

Shares of Thermon Group stock traded up $0.60 during midday trading on Friday, reaching $27.08. The company had a trading volume of 231,509 shares, compared to its average volume of 169,818. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.56 and a quick ratio of 1.71. The firm has a market cap of $912.33 million, a PE ratio of 19.91 and a beta of 1.07. The stock has a fifty day moving average price of $27.21 and a 200 day moving average price of $28.75. Thermon Group has a fifty-two week low of $23.05 and a fifty-two week high of $35.84.

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, topping the consensus estimate of $0.50 by $0.06. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. The business had revenue of $134.08 million for the quarter, compared to analyst estimates of $133.65 million. During the same period in the prior year, the firm earned $0.34 earnings per share. Thermon Group's revenue was up 5.0% on a year-over-year basis. On average, equities analysts anticipate that Thermon Group will post 1.88 earnings per share for the current year.

Institutional Investors Weigh In On Thermon Group

A number of institutional investors and hedge funds have recently made changes to their positions in THR. Charles Schwab Investment Management Inc. grew its position in shares of Thermon Group by 7.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 410,574 shares of the technology company's stock valued at $11,812,000 after acquiring an additional 29,146 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Thermon Group during the 4th quarter valued at $47,000. Northern Trust Corp increased its stake in Thermon Group by 10.8% in the 4th quarter. Northern Trust Corp now owns 336,909 shares of the technology company's stock worth $9,693,000 after acquiring an additional 32,755 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Thermon Group by 7.6% in the 4th quarter. Principal Financial Group Inc. now owns 17,351 shares of the technology company's stock worth $499,000 after buying an additional 1,226 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Thermon Group in the fourth quarter worth approximately $755,000. Institutional investors and hedge funds own 99.76% of the company's stock.

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 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.