Thermon Group (NYSE:THR) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a research note released on Thursday morning.

Separately, Roth Mkm lifted their price target on shares of Thermon Group from $36.00 to $38.00 and gave the company a buy rating in a research note on Thursday, May 30th.

Thermon Group Stock Down 3.2 %

Shares of NYSE:THR opened at $27.70 on Thursday. The business’s 50-day moving average is $30.51 and its 200-day moving average is $30.93. Thermon Group has a 1 year low of $23.76 and a 1 year high of $35.93. The company has a market capitalization of $938.23 million, a price-to-earnings ratio of 18.47 and a beta of 1.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.73.

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

Hedge Funds Weigh In On Thermon Group

A number of institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in Thermon Group by 17.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 303,493 shares of the technology company’s stock valued at $9,885,000 after purchasing an additional 44,321 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Thermon Group during the first quarter worth about $1,391,000. Swedbank AB acquired a new stake in shares of Thermon Group in the 1st quarter worth about $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 valued at $24,023,000 after acquiring an additional 69,666 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in 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 purchasing an additional 125,903 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.