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

StockNews.com upgraded shares of Thermon Group (NYSE:THR) from a hold rating to a buy rating in a report released on Saturday morning.

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

Thermon Group Price Performance

NYSE:THR opened at $29.85 on Friday. Thermon Group has a one year low of $23.76 and a one year high of $35.93. The company has a market cap of $1.01 billion, a P/E ratio of 19.90 and a beta of 1.06. The firm’s fifty day moving average price is $30.32 and its two-hundred day moving average price is $30.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.61 and a quick ratio of 1.73.

Thermon Group (NYSE:THR) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.31 by $0.07. Thermon Group had a net margin of 9.78% and a return on equity of 13.26%. The firm had revenue of $115.10 million for the quarter, compared to the consensus estimate of $115.99 million. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts expect that Thermon Group will post 1.98 earnings per share for the current year.

Hedge Funds Weigh In On Thermon Group

Several institutional investors and hedge funds have recently modified their holdings of THR. Algert Global LLC grew its stake in Thermon Group by 156.4% during the second quarter. Algert Global LLC now owns 30,483 shares of the technology company’s stock worth $938,000 after buying an additional 18,593 shares in the last quarter. Meros Investment Management LP grew its stake 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 worth $6,453,000 after buying an additional 3,400 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake 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 buying an additional 682 shares in the last quarter. Dark Forest Capital Management LP grew its stake in Thermon Group by 71.3% during the second quarter. Dark Forest Capital Management LP now owns 12,936 shares of the technology company’s stock worth $398,000 after buying an additional 5,384 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Thermon Group during the second quarter worth about $40,000. 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.