StockNews.com upgraded shares of Thermon Group (NYSE:THR - Free Report) from a buy rating to a strong-buy rating in a report issued on Friday morning.
Thermon Group Price Performance
NYSE THR traded up $1.06 during trading hours on Friday, reaching $28.58. 273,099 shares of the stock traded hands, compared to its average volume of 150,888. The stock has a 50 day simple moving average of $29.33 and a two-hundred day simple moving average of $29.38. Thermon Group has a 1 year low of $25.76 and a 1 year high of $35.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.80 and a quick ratio of 1.85. The company has a market cap of $962.89 million, a price-to-earnings ratio of 21.02 and a beta of 1.10.
Thermon Group (NYSE:THR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The technology company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. Thermon Group had a return on equity of 11.77% and a net margin of 9.48%. On average, analysts predict that Thermon Group will post 1.79 EPS for the current fiscal year.
Insider Transactions at Thermon Group
In other news, SVP David Buntin sold 28,137 shares of Thermon Group 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 owns 57,773 shares in the company, valued at approximately $1,857,401.95. The trade was a 32.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Assetmark Inc. purchased a new position in shares of Thermon Group in the fourth quarter worth about $26,000. Venturi Wealth Management LLC purchased a new position in shares of Thermon Group in the fourth quarter worth about $47,000. AlphaQuest LLC increased its holdings in shares of Thermon Group by 57,825.0% in the fourth quarter. AlphaQuest LLC now owns 2,317 shares of the technology company's stock worth $67,000 after buying an additional 2,313 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Thermon Group by 4,731.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,865 shares of the technology company's stock worth $111,000 after buying an additional 3,785 shares during the period. Finally, Congress Asset Management Co. purchased a new position in shares of Thermon Group in the fourth quarter worth about $227,000. Hedge funds and other institutional investors own 99.76% of the company's stock.
About Thermon Group
(
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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.
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