Gentherm (NASDAQ:THRM) Shares Gap Up Following Strong Earnings

Gentherm Incorporated (NASDAQ:THRM)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $50.38, but opened at $51.96. Gentherm shares last traded at $53.52, with a volume of 63,804 shares traded.

The auto parts company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.43 by $0.19. Gentherm had a return on equity of 12.91% and a net margin of 2.75%. The company had revenue of $356.00 million during the quarter, compared to analysts’ expectations of $361.11 million. During the same quarter in the previous year, the business earned $0.49 EPS. The firm’s revenue was down 2.1% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Robert W. Baird dropped their price objective on Gentherm from $67.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on Gentherm from $63.00 to $60.00 and set an “underweight” rating on the stock in a report on Monday, April 22nd. Finally, StockNews.com upgraded Gentherm from a “hold” rating to a “buy” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.75.

Insider Buying and Selling at Gentherm

In other news, CEO Phillip Eyler sold 15,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $55.17, for a total value of $827,550.00. Following the completion of the sale, the chief executive officer now owns 147,317 shares of the company’s stock, valued at $8,127,478.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentherm

A number of large investors have recently added to or reduced their stakes in THRM. PNC Financial Services Group Inc. grew its stake in shares of Gentherm by 14.9% during the third quarter. PNC Financial Services Group Inc. now owns 2,123 shares of the auto parts company’s stock valued at $115,000 after acquiring an additional 276 shares in the last quarter. Bridge City Capital LLC raised its position in shares of Gentherm by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 56,156 shares of the auto parts company’s stock valued at $3,233,000 after purchasing an additional 443 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Gentherm by 0.5% during the 3rd quarter. Raymond James & Associates now owns 104,144 shares of the auto parts company’s stock valued at $5,651,000 after buying an additional 469 shares during the last quarter. Swiss National Bank grew its position in shares of Gentherm by 0.7% during the third quarter. Swiss National Bank now owns 72,900 shares of the auto parts company’s stock worth $3,956,000 after buying an additional 500 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Gentherm by 9.2% in 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 last quarter. 97.13% of the stock is owned by institutional investors and hedge funds.

Gentherm Stock Up 2.7 %

The stock has a market capitalization of $1.64 billion, a P/E ratio of 42.21 and a beta of 1.49. The stock’s 50 day simple moving average is $54.27 and its 200 day simple moving average is $50.49. The company has a current ratio of 2.12, a quick ratio of 1.48 and a debt-to-equity ratio of 0.34.

About Gentherm

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.