Thermon Group (NYSE:THR) Earns Outperform Rating from Analysts at CJS Securities

CJS Securities initiated coverage on shares of Thermon Group (NYSE:THR) in a research report released on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $42.00 price objective on the technology company’s stock.

Several other equities analysts have also recently issued reports on the stock. StockNews.com cut shares of Thermon Group from a buy rating to a hold rating in a research report on Friday, April 26th. Roth Mkm assumed coverage on shares of Thermon Group in a research report on Wednesday, March 6th. They set a buy rating and a $36.00 price objective for the company.

Thermon Group Trading Up 0.7 %

Shares of NYSE THR opened at $32.14 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.53 and a current ratio of 2.22. Thermon Group has a 52-week low of $20.56 and a 52-week high of $34.07. The firm has a 50 day moving average price of $30.18 and a two-hundred day moving average price of $30.11. The stock has a market cap of $1.08 billion, a P/E ratio of 22.32 and a beta of 1.18.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.09. Thermon Group had a net margin of 10.05% and a return on equity of 14.60%. The firm had revenue of $136.43 million during the quarter, compared to analysts’ expectations of $128.22 million. As a group, equities analysts forecast that Thermon Group will post 1.8 EPS for the current year.

Insider Transactions at Thermon Group

In related news, Director Roger L. Fix purchased 1,555 shares of Thermon Group stock in a transaction on Tuesday, February 6th. The stock was acquired at an average cost of $25.70 per share, for a total transaction of $39,963.50. Following the completion of the acquisition, the director now owns 28,273 shares of the company’s stock, valued at approximately $726,616.10. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Thermon Group

Large investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in Thermon Group by 99.0% in the third quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock worth $50,587,000 after purchasing an additional 916,248 shares during the period. Vanguard Group Inc. increased its stake in shares of Thermon Group by 0.7% in the third quarter. Vanguard Group Inc. now owns 3,341,344 shares of the technology company’s stock worth $91,787,000 after purchasing an additional 24,272 shares in the last quarter. Federated Hermes Inc. grew its stake in Thermon Group by 44.0% during the third quarter. Federated Hermes Inc. now owns 258,039 shares of the technology company’s stock valued at $7,088,000 after acquiring an additional 78,826 shares in the last quarter. Meros Investment Management LP purchased a new position in Thermon Group during the third quarter valued at approximately $2,335,000. Finally, Wellington Management Group LLP lifted its position in Thermon Group by 44.8% during the third quarter. Wellington Management Group LLP now owns 1,724,846 shares of the technology company’s stock valued at $47,382,000 after purchasing an additional 533,474 shares during the last quarter. 99.76% of the stock is currently 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.