Thermon Group (NYSE:THR) Upgraded by StockNews.com to “Buy”

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

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

Thermon Group Stock Up 3.2 %

Shares of NYSE:THR opened at $29.85 on Friday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 19.90 and a beta of 1.06. The company has a 50 day moving average of $30.32 and a 200-day moving average of $30.99. 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 has a one year low of $23.76 and a one year high of $35.93.

Thermon Group (NYSE:THR) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. The firm had revenue of $115.10 million during the quarter, compared to analysts’ expectations of $115.99 million. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. On average, sell-side analysts forecast that Thermon Group will post 1.98 earnings per share for the current year.

Institutional Trading of Thermon Group

Institutional investors have recently made changes to their positions in the business. Quest Partners LLC lifted its position in shares of Thermon Group by 2,375.0% in the second quarter. Quest Partners LLC now owns 1,089 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,045 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Thermon Group in the second quarter worth $40,000. Meeder Asset Management Inc. bought a new stake in Thermon Group during the second quarter worth $60,000. EntryPoint Capital LLC raised its position in Thermon Group by 421.1% during the first quarter. EntryPoint Capital LLC now owns 6,331 shares of the technology company’s stock worth $207,000 after acquiring an additional 5,116 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in Thermon Group by 9.8% during the second quarter. QRG Capital Management Inc. now owns 6,838 shares of the technology company’s stock worth $210,000 after acquiring an additional 608 shares in the last quarter. 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 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.