Thermon Group (NYSE:THR) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Thermon Group Holdings, Inc. (NYSE:THR) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $29.23 and traded as high as $29.62. Thermon Group shares last traded at $29.59, with a volume of 322,223 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Thermon Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th.

Thermon Group Stock Performance

The company has a quick ratio of 1.71, a current ratio of 2.56 and a debt-to-equity ratio of 0.28. The company has a market cap of $996.72 million, a PE ratio of 21.75 and a beta of 0.98. The business’s fifty day moving average is $28.83 and its 200-day moving average is $29.22.

Thermon Group (NYSE:THR) last issued its quarterly 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 net margin of 9.48% and a return on equity of 11.72%. As a group, research analysts predict that Thermon Group Holdings, Inc. will post 1.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Thermon Group

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Thermon Group by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 3,383,299 shares of the technology company’s stock valued at $97,338,000 after purchasing an additional 16,112 shares in the last quarter. FMR LLC raised its position in shares of 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 buying an additional 198,642 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Thermon Group by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,757,889 shares of the technology company’s stock valued at $50,574,000 after buying an additional 44,137 shares during the last quarter. Wellington Management Group LLP raised its position in shares of 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 buying an additional 178,017 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Thermon Group by 0.8% during the fourth quarter. William Blair Investment Management LLC now owns 857,633 shares of the technology company’s stock valued at $24,674,000 after buying an additional 6,821 shares during the last quarter. Hedge funds and other institutional investors own 99.76% 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 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.