Thermon Group (NYSE:THR – Get Free Report) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.
Thermon Group Trading Up 0.2 %
Shares of THR traded up $0.04 during mid-day trading on Friday, reaching $25.56. 83,542 shares of the company were exchanged, compared to its average volume of 180,643. Thermon Group has a 52 week low of $15.23 and a 52 week high of $28.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 2.32. The stock has a market capitalization of $861.12 million, a PE ratio of 22.62 and a beta of 1.28. The business has a 50 day simple moving average of $26.47 and a two-hundred day simple moving average of $24.91.
Thermon Group (NYSE:THR – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. Thermon Group had a return on equity of 13.92% and a net margin of 8.42%. The company had revenue of $106.89 million during the quarter, compared to the consensus estimate of $101.17 million. On average, analysts predict that Thermon Group will post 1.78 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Thermon Group news, CFO Kevin Fox bought 990 shares of the stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $25.92 per share, for a total transaction of $25,660.80. Following the completion of the acquisition, the chief financial officer now owns 39,150 shares in the company, valued at approximately $1,014,768. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John T. Nesser III acquired 1,973 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average price of $26.38 per share, for a total transaction of $52,047.74. Following the completion of the acquisition, the director now directly owns 61,000 shares in the company, valued at approximately $1,609,180. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin Fox acquired 990 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average price of $25.92 per share, with a total value of $25,660.80. Following the acquisition, the chief financial officer now owns 39,150 shares of the company’s stock, valued at $1,014,768. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Thermon Group
Several hedge funds and other institutional investors have recently modified their holdings of THR. Yarbrough Capital LLC purchased a new position in shares of Thermon Group during the second quarter valued at approximately $457,000. Virginia Retirement Systems ET AL purchased a new position in shares of Thermon Group during the second quarter valued at approximately $987,000. Alliancebernstein L.P. boosted its position in shares of Thermon Group by 60.8% during the second quarter. Alliancebernstein L.P. now owns 33,920 shares of the technology company’s stock valued at $902,000 after buying an additional 12,820 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Thermon Group during the second quarter valued at approximately $367,000. Finally, Zacks Investment Management boosted its position in shares of Thermon Group by 17.9% during the second quarter. Zacks Investment Management now owns 25,045 shares of the technology company’s stock valued at $666,000 after buying an additional 3,804 shares during the last quarter. Institutional investors own 96.77% 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 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.