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

Thermon Group (NYSE:THR) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

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

Thermon Group Trading Up 2.6 %

THR opened at $28.85 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.61 and a debt-to-equity ratio of 0.31. Thermon Group has a 52 week low of $23.76 and a 52 week high of $35.93. The business’s 50 day moving average is $30.32 and its two-hundred day moving average is $30.98. The firm has a market cap of $975.13 million, a price-to-earnings ratio of 19.23 and a beta of 1.06.

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

Hedge Funds Weigh In On Thermon Group

A number of large investors have recently bought and sold shares of THR. Vanguard Group Inc. raised its holdings in Thermon Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 3,363,315 shares of the technology company’s stock worth $109,543,000 after purchasing an additional 21,971 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Thermon Group by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,775,583 shares of the technology company’s stock worth $57,833,000 after acquiring an additional 4,599 shares during the period. William Blair Investment Management LLC raised its position in Thermon Group by 22.2% in the first quarter. William Blair Investment Management LLC now owns 901,244 shares of the technology company’s stock worth $29,489,000 after acquiring an additional 163,640 shares in the last quarter. New South Capital Management Inc. lifted its holdings in Thermon Group by 10.5% in the first 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 during the period. Finally, Swedbank AB boosted its position in shares of Thermon Group by 2.6% during the 2nd quarter. Swedbank AB now owns 635,000 shares of the technology company’s stock worth $19,533,000 after purchasing an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors 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 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.