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

StockNews.com upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a research report report published on Thursday.

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

Thermon Group Stock Down 3.2 %

Thermon Group stock opened at $27.70 on Thursday. 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 market cap of $938.23 million, a PE ratio of 18.47 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 firm’s 50-day simple moving average is $30.51 and its 200 day simple moving average is $30.93.

Thermon Group (NYSE:THR) last released its earnings results on Wednesday, August 7th. The technology company reported $0.38 earnings per share (EPS) 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 analyst estimates of $115.99 million. Thermon Group had a return on equity of 13.26% and a net margin of 9.78%. Thermon Group’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. Research analysts predict that Thermon Group will post 1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Thermon Group

Several institutional investors have recently bought and sold shares of the company. Algert Global LLC lifted its position in shares of Thermon Group by 156.4% during the 2nd quarter. Algert Global LLC now owns 30,483 shares of the technology company’s stock valued at $938,000 after buying an additional 18,593 shares during the last quarter. Meros Investment Management LP lifted its holdings in Thermon Group by 1.6% during the second quarter. Meros Investment Management LP now owns 209,800 shares of the technology company’s stock valued at $6,453,000 after purchasing an additional 3,400 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Thermon Group by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock worth $523,000 after purchasing an additional 682 shares during the period. Dark Forest Capital Management LP increased its stake in shares of Thermon Group by 71.3% in the second quarter. Dark Forest Capital Management LP now owns 12,936 shares of the technology company’s stock worth $398,000 after purchasing an additional 5,384 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Thermon Group in the second quarter valued at approximately $40,000. Hedge funds and other 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.