Thermon Group (NYSE:THR) Lowered to "Buy" Rating by StockNews.com

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

Thermon Group Price Performance

THR stock traded up $0.17 on Tuesday, reaching $29.49. 237,322 shares of the company's stock were exchanged, compared to its average volume of 172,821. The stock has a fifty day moving average of $28.84 and a 200-day moving average of $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 cap of $993.52 million, a PE ratio of 21.68 and a beta of 1.10. The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.28.

Thermon Group (NYSE:THR - Get Free Report) last posted its earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.02. Thermon Group had a return on equity of 11.72% and a net margin of 9.48%. As a group, equities analysts predict that Thermon Group will post 1.88 EPS for the current fiscal year.

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Insider Transactions at Thermon Group

In other news, SVP David Buntin sold 28,137 shares of Thermon Group stock in a transaction that occurred on Thursday, December 12th. The stock was 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 approximately $1,857,401.95. This trade represents a 32.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company's stock.

Institutional Trading of Thermon Group

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. acquired a new position in shares of Thermon Group during the 3rd quarter valued at $481,000. Barclays PLC grew its holdings in shares of Thermon Group by 312.1% during the third quarter. Barclays PLC now owns 54,149 shares of the technology company's stock valued at $1,616,000 after buying an additional 41,009 shares in the last quarter. Wellington Management Group LLP boosted its position in Thermon Group by 15.5% during the third quarter. Wellington Management Group LLP now owns 1,324,609 shares of the technology company's stock valued at $39,526,000 after purchasing an additional 178,017 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Thermon Group by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 274,227 shares of the technology company's stock valued at $8,183,000 after purchasing an additional 27,235 shares during the last quarter. Finally, FMR LLC boosted its position in Thermon Group by 10.0% during the third quarter. FMR LLC now owns 2,186,280 shares of the technology company's stock valued at $65,239,000 after purchasing an additional 198,642 shares during the last quarter. Institutional investors 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.