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

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

Thermon Group Stock Up 4.1 %

Shares of THR stock traded up $1.16 during trading on Tuesday, hitting $29.57. 227,999 shares of the company were exchanged, compared to its average volume of 165,364. The business’s 50-day simple moving average is $28.83 and its 200 day simple moving average is $29.30. Thermon Group has a twelve month low of $25.76 and a twelve month high of $35.93. The firm has a market capitalization of $996.31 million, a price-to-earnings ratio of 21.74 and a beta of 1.10. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.71 and a current ratio of 2.56.

Thermon Group (NYSE:THR) last issued its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating 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, analysts forecast that Thermon Group will post 1.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Thermon Group news, SVP David Buntin sold 28,137 shares of the business’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 sale, the senior vice president now directly owns 57,773 shares of the company’s stock, valued at $1,857,401.95. The trade was a 32.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Thermon Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its holdings in Thermon Group by 4.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 254,351 shares of the technology company’s stock valued at $7,318,000 after buying an additional 10,714 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Thermon Group by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,269 shares of the technology company’s stock worth $2,223,000 after purchasing an additional 9,718 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Thermon Group in the 4th quarter worth approximately $192,000. ProShare Advisors LLC bought a new stake in Thermon Group during the fourth quarter worth approximately $270,000. Finally, Meros Investment Management LP grew its holdings in Thermon Group by 3.9% during the fourth quarter. Meros Investment Management LP now owns 222,684 shares of the technology company’s stock valued at $6,407,000 after purchasing an additional 8,297 shares during the last quarter. Institutional investors and hedge funds 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 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.