Thermon Group (NYSE:THR) Trading Up 5.7% – Time to Buy?

Thermon Group Holdings, Inc. (NYSE:THR) was up 5.7% on Tuesday . The stock traded as high as $30.22 and last traded at $30.17. Approximately 170,505 shares were traded during trading, an increase of 13% from the average daily volume of 150,759 shares. The stock had previously closed at $28.54.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Thermon Group from a “buy” rating to a “strong-buy” rating in a research report on Friday.

Thermon Group Stock Up 6.4 %

The firm has a 50 day simple moving average of $29.33 and a two-hundred day simple moving average of $29.38. The company has a market capitalization of $1.02 billion, a PE ratio of 22.33 and a beta of 1.10. The company has a current ratio of 2.80, a quick ratio of 1.85 and a debt-to-equity ratio of 0.29.

Thermon Group (NYSE:THR) last announced 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 11.77% and a net margin of 9.48%. Research analysts expect that Thermon Group Holdings, Inc. will post 1.79 EPS for the current year.

Insider Activity at Thermon Group

In other news, SVP David Buntin sold 28,137 shares of the business’s stock in a transaction 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 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 through the SEC website. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Thermon Group

Institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its stake in 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 purchasing an additional 422 shares during the last quarter. D.A. Davidson & CO. increased its stake in Thermon Group by 1.8% in the third 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 during the last quarter. The Manufacturers Life Insurance Company increased its stake in Thermon Group by 4.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,000 shares of the technology company’s stock valued at $523,000 after purchasing an additional 682 shares during the last quarter. Riverpoint Wealth Management Holdings LLC increased its stake in Thermon Group by 1.7% in the third quarter. Riverpoint Wealth Management Holdings LLC now owns 47,057 shares of the technology company’s stock valued at $1,404,000 after purchasing an additional 798 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Thermon Group by 1.7% during the fourth quarter. American Century Companies Inc. now owns 49,926 shares of the technology company’s stock worth $1,436,000 after acquiring an additional 857 shares during the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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.