Gentherm (NASDAQ:THRM) Upgraded by JPMorgan Chase & Co. to Overweight Rating

Gentherm (NASDAQ:THRM) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday, Briefing.com reports. The firm currently has a $48.00 target price on the auto parts company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 25.56% from the company’s previous close.

THRM has been the subject of a number of other reports. CJS Securities started coverage on Gentherm in a report on Monday. They set a “market outperform” rating and a $50.00 price target for the company. Stifel Nicolaus boosted their target price on Gentherm from $44.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Zacks Research raised Gentherm from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Finally, Freedom Capital cut shares of Gentherm from a “strong-buy” rating to a “hold” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.50.

Gentherm Trading Down 1.6%

Shares of THRM stock opened at $38.23 on Tuesday. The company has a 50 day moving average price of $39.76 and a 200 day moving average price of $34.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.49 and a current ratio of 2.06. Gentherm has a fifty-two week low of $27.00 and a fifty-two week high of $48.35. The stock has a market capitalization of $1.18 billion, a P/E ratio of 43.94, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

Gentherm (NASDAQ:THRM) last announced its quarterly earnings data on Thursday, July 23rd. The auto parts company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.19. Gentherm had a return on equity of 12.06% and a net margin of 1.68%.The business had revenue of $416.17 million during the quarter, compared to the consensus estimate of $382.90 million. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts predict that Gentherm will post 2.92 EPS for the current fiscal year.

Gentherm declared that its board has approved a stock repurchase program on Thursday, July 23rd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the auto parts company to buy up to 36.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Gentherm

In other news, SVP Wayne Kauffman, III sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $43.21, for a total transaction of $203,087.00. Following the transaction, the senior vice president directly owned 27,421 shares in the company, valued at approximately $1,184,861.41. This trade represents a 14.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Gentherm

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Gentherm during the second quarter worth $165,005,000. Dimensional Fund Advisors LP raised its position in Gentherm by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,474,493 shares of the auto parts company’s stock worth $40,960,000 after acquiring an additional 96,280 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Gentherm by 3,972.4% in the second quarter. California State Teachers Retirement System now owns 1,167,074 shares of the auto parts company’s stock valued at $39,809,000 after acquiring an additional 1,138,416 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Gentherm during the 2nd quarter worth $27,822,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Gentherm by 1.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 554,641 shares of the auto parts company’s stock worth $15,408,000 after purchasing an additional 10,058 shares in the last quarter. Hedge funds and other institutional investors own 97.13% of the company’s stock.

Gentherm Company Profile

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.