Raymond James & Associates Increases Holdings in Gentherm Incorporated (NASDAQ:THRM)

Raymond James & Associates raised its position in Gentherm Incorporated (NASDAQ:THRM - Free Report) by 18.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,468 shares of the auto parts company's stock after purchasing an additional 20,401 shares during the period. Raymond James & Associates owned 0.41% of Gentherm worth $5,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in Gentherm by 2,995.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 268,920 shares of the auto parts company's stock valued at $15,484,000 after purchasing an additional 260,233 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Gentherm by 119.4% in the 2nd quarter. American Century Companies Inc. now owns 259,185 shares of the auto parts company's stock valued at $12,783,000 after buying an additional 141,047 shares in the last quarter. Pembroke Management LTD grew its position in shares of Gentherm by 36.5% in the 1st quarter. Pembroke Management LTD now owns 273,827 shares of the auto parts company's stock valued at $15,767,000 after buying an additional 73,227 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Gentherm by 265.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 94,247 shares of the auto parts company's stock worth $4,648,000 after acquiring an additional 68,477 shares in the last quarter. Finally, Roubaix Capital LLC purchased a new stake in Gentherm in the first quarter valued at $2,647,000. 97.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

THRM has been the topic of several research reports. JPMorgan Chase & Co. raised Gentherm from an "underweight" rating to a "neutral" rating and set a $56.00 price objective on the stock in a report on Monday, October 21st. StockNews.com upgraded Gentherm from a "hold" rating to a "buy" rating in a research note on Friday, August 9th. Craig Hallum reduced their price objective on Gentherm from $85.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Robert W. Baird lowered their target price on shares of Gentherm from $54.00 to $50.00 and set a "neutral" rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $57.00.

Gentherm Stock Performance

THRM stock traded up $1.32 during trading on Friday, hitting $43.27. The company had a trading volume of 309,281 shares, compared to its average volume of 184,835. The firm has a 50-day moving average price of $45.37 and a 200-day moving average price of $48.95. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.36 billion, a PE ratio of 20.22 and a beta of 1.43. Gentherm Incorporated has a 1-year low of $39.86 and a 1-year high of $62.93.

Gentherm (NASDAQ:THRM - Get Free Report) last released its earnings results on Wednesday, October 30th. The auto parts company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. Gentherm had a return on equity of 14.36% and a net margin of 4.61%. The business had revenue of $371.50 million for the quarter, compared to analyst estimates of $372.89 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts expect that Gentherm Incorporated will post 2.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Phillip Eyler sold 4,402 shares of the firm's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $50.20, for a total value of $220,980.40. Following the completion of the sale, the chief executive officer now owns 147,317 shares in the company, valued at $7,395,313.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.91% of the stock is owned by insiders.

Gentherm 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.