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

StockNews.com cut shares of Thermon Group (NYSE:THR) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.

Thermon Group Price Performance

Shares of NYSE:THR opened at $29.29 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $28.84 and a 200 day simple moving average of $29.30. Thermon Group has a fifty-two week low of $25.76 and a fifty-two week high of $35.93. The company has a market cap of $986.61 million, a PE ratio of 21.53 and a beta of 1.10.

Thermon Group (NYSE:THR) last announced its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. On average, sell-side analysts anticipate that Thermon Group will post 1.88 EPS for the current year.

Insider Buying and Selling at Thermon Group

In related news, SVP David Buntin sold 28,137 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 57,773 shares of the company’s stock, valued at $1,857,401.95. This represents a 32.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Trading of Thermon Group

A number of hedge funds and other institutional investors have recently made changes to their positions in THR. Franklin Resources Inc. boosted its holdings in shares of Thermon Group by 2.1% in the third quarter. Franklin Resources Inc. now owns 20,665 shares of the technology company’s stock valued at $595,000 after acquiring an additional 422 shares in the last quarter. D.A. Davidson & CO. boosted its stake 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 in the last quarter. Quarry LP increased its position in shares of 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 shares of 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 raised its stake in shares of Thermon Group by 1.7% in the 3rd quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company’s stock worth $1,404,000 after buying an additional 798 shares in the last quarter. 99.76% of the stock is currently owned by institutional investors.

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.