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 Saturday.

Separately, Roth Mkm lifted 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 Price Performance

Shares of NYSE THR opened at $28.93 on Friday. The stock has a market cap of $979.89 million, a PE ratio of 19.29 and a beta of 1.06. Thermon Group has a fifty-two week low of $23.76 and a fifty-two week high of $35.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.73 and a current ratio of 2.61. The stock has a fifty day moving average of $30.32 and a 200-day moving average of $30.98.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.07. The company had revenue of $115.10 million during 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 firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Equities research analysts anticipate that Thermon Group will post 1.98 earnings per share for the current year.

Hedge Funds Weigh In On Thermon Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in THR. Quest Partners LLC lifted its stake in Thermon Group by 2,375.0% during 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 during the last quarter. Canada Pension Plan Investment Board bought a new stake in Thermon Group during the second quarter worth about $40,000. Meeder Asset Management Inc. bought a new stake in Thermon Group during the second quarter worth about $60,000. EntryPoint Capital LLC lifted its stake 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 purchasing an additional 5,116 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake 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 purchasing an additional 608 shares during the last quarter. 99.76% of the stock is currently owned by hedge funds and other institutional investors.

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.