Zacks Research upgraded shares of Gentherm (NASDAQ:THRM – Free Report) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.
A number of other equities research analysts have also commented on THRM. Robert W. Baird raised their price objective on Gentherm from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Stifel Nicolaus upped their target price on Gentherm from $44.00 to $59.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings raised shares of Gentherm from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Freedom Capital cut shares of Gentherm from a “strong-buy” rating to a “hold” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Gentherm from $41.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.60.
Check Out Our Latest Stock Analysis on THRM
Gentherm Price Performance
Gentherm (NASDAQ:THRM – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.19. The business had revenue of $404.94 million for the quarter, compared to the consensus estimate of $382.90 million. Gentherm had a return on equity of 12.06% and a net margin of 1.68%.Gentherm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. Equities analysts forecast that Gentherm will post 2.84 EPS for the current fiscal year.
Gentherm announced that its Board of Directors has initiated a stock buyback program on Thursday, July 23rd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the auto parts company to purchase up to 36.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Palouse Capital Management Inc. increased its position in Gentherm by 14.2% in the 2nd quarter. Palouse Capital Management Inc. now owns 4,822 shares of the auto parts company’s stock worth $164,000 after purchasing an additional 600 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Gentherm by 89.1% during the 2nd quarter. Moody National Bank Trust Division now owns 35,808 shares of the auto parts company’s stock valued at $1,221,000 after buying an additional 16,871 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Gentherm during the 1st quarter valued at about $1,008,000. Bank of America Corp DE grew its stake in shares of Gentherm by 7.6% in the 1st quarter. Bank of America Corp DE now owns 307,770 shares of the auto parts company’s stock valued at $8,550,000 after buying an additional 21,677 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of Gentherm by 7.5% in the 1st quarter. Quantinno Capital Management LP now owns 19,900 shares of the auto parts company’s stock valued at $553,000 after buying an additional 1,386 shares in the last quarter. Hedge funds and other institutional investors own 97.13% of the company’s stock.
Gentherm Company Profile
Gentherm Incorporated (NASDAQ: THRM) is a global developer and supplier of advanced thermal management technologies for automotive, specialty vehicle, medical, consumer and industrial markets. The company’s core focus lies in delivering integrated heating and cooling systems designed to enhance energy efficiency, comfort and safety across a wide range of applications. Gentherm’s product portfolio includes seat thermal systems, heated and ventilated seating surfaces, steering wheel heaters, battery thermal management solutions, and climate systems for electric vehicles.
In the automotive sector, Gentherm partners with leading original equipment manufacturers to engineer and manufacture high-performance thermal solutions that meet stringent industry demands for reduced weight, lower energy consumption and improved passenger comfort.
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