Gentherm (NASDAQ:THRM) Shares Gap Up Following Better-Than-Expected Earnings

Gentherm Incorporated (NASDAQ:THRM) shares gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $50.31, but opened at $54.79. Gentherm shares last traded at $54.40, with a volume of 8,024 shares.

The auto parts company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $375.70 million during the quarter, compared to the consensus estimate of $375.82 million. Gentherm had a return on equity of 13.97% and a net margin of 4.61%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on THRM shares. StockNews.com downgraded Gentherm from a “buy” rating to a “hold” rating in a report on Thursday. Robert W. Baird dropped their price objective on Gentherm from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. dropped their price objective on Gentherm from $60.00 to $56.00 and set an “underweight” rating for the company in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.50.

Insider Buying and Selling at Gentherm

In other Gentherm news, CEO Phillip Eyler sold 15,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $54.04, for a total value of $810,600.00. Following the completion of the transaction, the chief executive officer now directly owns 147,317 shares of the company’s stock, valued at $7,961,010.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 45,000 shares of company stock valued at $2,338,650. Company insiders own 1.91% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC boosted its position in shares of Gentherm by 86.1% during the first quarter. Headlands Technologies LLC now owns 523 shares of the auto parts company’s stock worth $30,000 after buying an additional 242 shares during the period. Quadrant Capital Group LLC boosted its position in shares of Gentherm by 211.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,149 shares of the auto parts company’s stock worth $60,000 after buying an additional 780 shares during the period. TFO Wealth Partners LLC boosted its position in shares of Gentherm by 44,050.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,766 shares of the auto parts company’s stock worth $92,000 after buying an additional 1,762 shares during the period. Handelsbanken Fonder AB boosted its position in shares of Gentherm by 9.2% during the fourth quarter. Handelsbanken Fonder AB now owns 5,916 shares of the auto parts company’s stock worth $310,000 after buying an additional 500 shares during the period. Finally, Linden Thomas Advisory Services LLC boosted its position in shares of Gentherm by 30.3% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,011 shares of the auto parts company’s stock worth $315,000 after buying an additional 1,399 shares during the period. 97.13% of the stock is owned by institutional investors and hedge funds.

Gentherm Stock Down 4.2 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 2.10 and a quick ratio of 1.44. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 37.05 and a beta of 1.45. The firm has a 50-day moving average price of $51.18 and a two-hundred day moving average price of $51.78.

Gentherm Company Profile

Gentherm Incorporated designs, develops, manufactures, and sells thermal management and pneumatic comfort technologies in the United States and internationally. The company operates in two segments, Automotive and Medical. The Automotive segment offers climate comfort systems, which include seat heaters, blowers, and thermoelectric devices for variable temperature climate control seats and steering wheel heaters that are designed to provide thermal comfort to automobile passengers; integrated electronic components, such as electronic control units; and other climate comfort systems, including neck and shoulder conditioners and climate control system products for door panels, armrests, cupholders, and storage bins.