Thermon Group (NYSE:THR) Upgraded by StockNews.com to Strong-Buy Rating

Thermon Group (NYSE:THR) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Thermon Group Stock Up 3.9 %

THR traded up $1.04 during midday trading on Friday, reaching $27.56. 304,863 shares of the company were exchanged, compared to its average volume of 146,003. Thermon Group has a one year low of $25.76 and a one year high of $35.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.85 and a current ratio of 2.80. The company’s fifty day moving average price is $29.48 and its 200 day moving average price is $29.49. The company has a market cap of $928.46 million, a price-to-earnings ratio of 21.53 and a beta of 1.10.

Thermon Group (NYSE:THR) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. Thermon Group had a net margin of 8.89% and a return on equity of 12.08%. As a group, analysts expect that Thermon Group will post 1.79 EPS for the current year.

Insider Buying and Selling at Thermon Group

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $32.15, for a total value of $904,604.55. Following the transaction, the senior vice president now directly owns 57,773 shares in the company, valued at $1,857,401.95. This represents a 32.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Trading of Thermon Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in Thermon Group by 4.2% in 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. Wedge Capital Management L L P NC lifted its holdings in shares of Thermon Group by 6.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 46,643 shares of the technology company’s stock worth $1,392,000 after acquiring an additional 3,009 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Thermon Group by 4.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 38,341 shares of the technology company’s stock valued at $1,144,000 after purchasing an additional 1,754 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Thermon Group by 1.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 202,389 shares of the technology company’s stock valued at $6,039,000 after purchasing an additional 2,035 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Thermon Group by 131.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,232 shares of the technology company’s stock worth $693,000 after purchasing an additional 13,199 shares during the period. Hedge funds and other institutional investors 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.