JPMorgan Chase & Co. upgraded shares of Gentherm (NASDAQ:THRM – Free Report) from a neutral rating to an overweight rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $48.00 price objective on the auto parts company’s stock.
A number of other brokerages also recently weighed in on THRM. CJS Securities started coverage on Gentherm in a report on Monday. They issued an “outperform” rating and a $50.00 price target for the company. Roth Capital reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Gentherm in a report on Wednesday, July 29th. Zacks Research upgraded shares of Gentherm from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Stifel Nicolaus boosted their target price on shares of Gentherm from $44.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Weiss Ratings raised shares of Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.50.
Check Out Our Latest Stock Report on THRM
Gentherm Stock Down 0.8%
Gentherm (NASDAQ:THRM – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.19. Gentherm had a return on equity of 12.06% and a net margin of 1.68%.The firm had revenue of $416.17 million for the quarter, compared to analysts’ expectations of $382.90 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Gentherm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Gentherm will post 2.92 EPS for the current fiscal year.
Gentherm announced that its Board of Directors has authorized a share repurchase program on Thursday, July 23rd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to purchase up to 36.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
Insider Activity
In related news, SVP Wayne Kauffman, III sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $43.21, for a total value of $203,087.00. Following the sale, the senior vice president owned 27,421 shares of the company’s stock, valued at approximately $1,184,861.41. This trade represents a 14.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC grew its position in shares of Gentherm by 9.4% during the second quarter. Tidal Investments LLC now owns 23,651 shares of the auto parts company’s stock worth $807,000 after acquiring an additional 2,030 shares during the last quarter. Engineers Gate Manager LP lifted its position in Gentherm by 95.0% in the 2nd quarter. Engineers Gate Manager LP now owns 17,200 shares of the auto parts company’s stock valued at $587,000 after purchasing an additional 8,380 shares during the last quarter. Corient Private Wealth LP lifted its position in Gentherm by 43.4% in the 2nd quarter. Corient Private Wealth LP now owns 11,780 shares of the auto parts company’s stock valued at $402,000 after purchasing an additional 3,565 shares during the last quarter. Odyssean LLC acquired a new position in Gentherm during the 2nd quarter valued at about $422,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Gentherm by 4.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,056 shares of the auto parts company’s stock valued at $2,083,000 after purchasing an additional 2,730 shares during the period. 97.13% of the stock is currently owned by institutional investors.
About Gentherm
Gentherm Inc (NASDAQ: THRM) develops and manufactures thermal management and pneumatic comfort technologies for the automotive and medical markets. The company’s products are designed to improve occupant comfort, regulate temperature and support specialized healthcare applications.
For automotive customers, Gentherm supplies heated and ventilated seating systems, climate-controlled seats, heated steering wheels, neck-conditioning systems and other interior comfort technologies. Its portfolio also includes battery thermal management and related solutions intended to help manage temperature in electrified vehicles.
In the medical market, Gentherm provides patient temperature-management systems used for warming and cooling during medical procedures and critical-care applications.
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