Thermon Group (NYSE:THR) Reaches New 1-Year High at $35.93

Thermon Group Holdings, Inc. (NYSE:THR)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $35.93 and last traded at $35.28, with a volume of 8850 shares. The stock had previously closed at $35.54.

Analysts Set New Price Targets

THR has been the topic of a number of recent analyst reports. Roth Mkm started coverage on Thermon Group in a research report on Wednesday, March 6th. They set a “buy” rating and a $36.00 price target on the stock. CJS Securities began coverage on Thermon Group in a research report on Monday, April 29th. They issued an “outperform” rating and a $42.00 target price on the stock. Finally, StockNews.com raised shares of Thermon Group from a “hold” rating to a “buy” rating in a report on Saturday, May 4th.

Thermon Group Stock Performance

The company has a market cap of $1.18 billion, a price-to-earnings ratio of 24.70 and a beta of 1.17. The company has a current ratio of 2.22, a quick ratio of 1.53 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $32.22 and its 200 day simple moving average is $30.88.

Institutional Trading of Thermon Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in Thermon Group by 99.0% in the 3rd quarter. FMR LLC now owns 1,841,520 shares of the technology company’s stock valued at $50,587,000 after buying an additional 916,248 shares during the period. Vanguard Group Inc. boosted its position in Thermon Group by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,341,344 shares of the technology company’s stock valued at $91,787,000 after buying an additional 24,272 shares during the period. Meros Investment Management LP purchased a new position in Thermon Group in the 3rd quarter valued at approximately $2,335,000. Federated Hermes Inc. boosted its position in Thermon Group by 44.0% in the 3rd quarter. Federated Hermes Inc. now owns 258,039 shares of the technology company’s stock valued at $7,088,000 after buying an additional 78,826 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Thermon Group by 44.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,724,846 shares of the technology company’s stock worth $47,382,000 after purchasing an additional 533,474 shares during the last quarter. Institutional investors and hedge funds 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.