Gentherm (NASDAQ:THRM) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Gentherm (NASDAQ:THRM) from a buy rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Several other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Gentherm from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday. Zacks Research cut Gentherm from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Weiss Ratings raised Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 29th. Stifel Nicolaus dropped their price target on Gentherm from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Friday. Finally, Roth Capital restated a “buy” rating and issued a $50.00 price objective on shares of Gentherm in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.17.

Gentherm Trading Down 0.0%

Shares of THRM stock opened at $28.59 on Friday. The firm’s 50-day simple moving average is $35.33 and its 200-day simple moving average is $34.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.05 and a quick ratio of 1.47. Gentherm has a 1-year low of $25.31 and a 1-year high of $48.35. The firm has a market cap of $878.86 million, a P/E ratio of 95.30, a PEG ratio of 0.66 and a beta of 1.37.

Gentherm (NASDAQ:THRM) last released its earnings results on Thursday, October 22nd. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.31). The company had revenue of $405.10 million during the quarter, compared to analysts’ expectations of $404.16 million. Gentherm had a net margin of 0.57% and a return on equity of 10.30%. Gentherm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 earnings per share. As a group, equities analysts forecast that Gentherm will post 2.89 EPS for the current year.

Gentherm Announces Dividend

The firm also recently announced a special dividend, which was paid on Wednesday, October 7th. Investors of record on Monday, September 28th were issued a dividend of $1.90 per share.

Gentherm declared that its board has authorized a stock buyback plan on Thursday, July 23rd that allows the company to buy back $400 million in outstanding shares. This buyback authorization allows the auto parts company to repurchase up to 36.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Paul Anthony Mascarenas acquired 20,000 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were bought at an average cost of $26.63 per share, with a total value of $532,600.00. Following the completion of the transaction, the director directly owned 22,677 shares of the company’s stock, valued at $603,888.51. This trade represents a 747.10% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Wayne S. Kauffman III sold 4,700 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $43.21, for a total value of $203,087.00. Following the transaction, the senior vice president owned 27,421 shares in the company, valued at approximately $1,184,861.41. This represents a 14.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gentherm

A number of large investors have recently modified their holdings of the stock. Viking Fund Management LLC purchased a new stake in shares of Gentherm during the 3rd quarter valued at about $266,000. Moody National Bank Trust Division boosted its holdings in Gentherm by 8.3% in the 3rd quarter. Moody National Bank Trust Division now owns 38,780 shares of the auto parts company’s stock worth $1,291,000 after acquiring an additional 2,972 shares during the period. Tidal Investments LLC boosted its holdings in Gentherm by 9.4% in the 2nd 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 period. Engineers Gate Manager LP boosted its holdings 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 worth $587,000 after acquiring an additional 8,380 shares during the period. Finally, Corient Private Wealth LP boosted its holdings 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 worth $402,000 after acquiring an additional 3,565 shares during the period. Institutional investors and hedge funds own 97.13% of the company’s stock.

Gentherm Company Profile

Gentherm Incorporated (NASDAQ: THRM) develops and manufactures thermal management and comfort technologies for the automotive and medical industries. The company’s automotive products include heated and cooled seating systems, climate-controlled seats, heated steering wheels, seat ventilation, and other technologies designed to improve passenger comfort and manage temperature.

Gentherm also provides battery thermal management systems and related technologies that support the performance, efficiency, and safety of electrified vehicles.