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

StockNews.com lowered shares of Thermon Group (NYSE:THR) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday morning.

Thermon Group Stock Up 4.1 %

THR stock opened at $29.57 on Tuesday. The stock has a market capitalization of $996.31 million, a P/E ratio of 21.74 and a beta of 1.10. The company has a current ratio of 2.56, a quick ratio of 1.71 and a debt-to-equity ratio of 0.28. Thermon Group has a 12 month low of $25.76 and a 12 month high of $35.93. The firm has a 50-day moving average price of $28.83 and a 200-day moving average price of $29.30.

Thermon Group (NYSE:THR) last posted its earnings results on Thursday, February 6th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Thermon Group had a net margin of 9.48% and a return on equity of 11.72%. As a group, equities research analysts anticipate that Thermon Group will post 1.88 EPS for the current fiscal year.

Insider Activity at Thermon Group

In related news, SVP David Buntin sold 28,137 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $32.15, for a total value of $904,604.55. Following the completion of the transaction, the senior vice president now owns 57,773 shares in the company, valued at $1,857,401.95. This trade represents a 32.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

Institutional Trading of Thermon Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its position in Thermon Group by 2.1% during the 3rd quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock valued at $595,000 after purchasing an additional 422 shares during the period. D.A. Davidson & CO. increased its position in Thermon Group by 1.8% during the 3rd quarter. D.A. Davidson & CO. now owns 29,282 shares of the technology company’s stock valued at $874,000 after purchasing an additional 506 shares during the period. Quarry LP increased its position in Thermon Group by 314.1% during the 4th quarter. Quarry LP now owns 853 shares of the technology company’s stock valued at $25,000 after purchasing an additional 647 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Thermon Group by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,977 shares of the technology company’s stock valued at $546,000 after purchasing an additional 678 shares during the period. Finally, Riverpoint Wealth Management Holdings LLC increased its position in Thermon Group by 1.7% during the 3rd quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company’s stock valued at $1,404,000 after purchasing an additional 798 shares during the period. 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 offers 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.