Front Street Capital Management Inc. Buys New Stake in Gentherm Inc $THRM

Front Street Capital Management Inc. purchased a new position in Gentherm Inc (NASDAQ:THRM) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 38,440 shares of the auto parts company’s stock, valued at approximately $1,311,000.

Several other institutional investors have also bought and sold shares of THRM. BlackRock Inc. purchased a new position in shares of Gentherm in the 2nd quarter worth $165,005,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Gentherm in the 2nd quarter valued at about $27,822,000. Arrowstreet Capital Limited Partnership grew its position in Gentherm by 385.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 543,200 shares of the auto parts company’s stock worth $18,501,000 after acquiring an additional 431,271 shares in the last quarter. Royce & Associates LP bought a new stake in Gentherm during the fourth quarter worth approximately $12,080,000. Finally, Bank of New York Mellon Corp bought a new stake in Gentherm during the second quarter worth approximately $7,180,000. Institutional investors own 97.13% of the company’s stock.

Insiders Place Their Bets

In other Gentherm news, SVP Wayne S. Kauffman III sold 4,700 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $43.21, for a total transaction of $203,087.00. Following the sale, the senior vice president owned 27,421 shares of the company’s stock, valued at approximately $1,184,861.41. This trade represents a 14.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on THRM shares. Wall Street Zen lowered Gentherm from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Stifel Nicolaus increased their price target on Gentherm from $44.00 to $59.00 and gave the company a “buy” rating in a report on Friday, July 24th. Weiss Ratings upgraded Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 29th. Zacks Research raised shares of Gentherm from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Freedom Capital downgraded shares of Gentherm from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $45.80.

Gentherm Trading Down 2.5%

NASDAQ THRM opened at $39.45 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.49 and a current ratio of 2.06. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 45.34 and a beta of 1.35. The company’s 50-day simple moving average is $38.42 and its two-hundred day simple moving average is $33.68. Gentherm Inc has a one year low of $27.00 and a one year high of $48.35.

Gentherm (NASDAQ:THRM) last announced its quarterly earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.19. Gentherm had a net margin of 1.68% and a return on equity of 12.06%. The firm had revenue of $404.94 million during the quarter, compared to analysts’ expectations of $382.90 million. During the same quarter in the prior year, the company earned $0.54 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Equities analysts forecast that Gentherm Inc will post 2.92 EPS for the current fiscal year.

Gentherm announced that its Board of Directors has authorized a share repurchase program on Thursday, July 23rd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the auto parts company to repurchase up to 36.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Gentherm Company Profile

Gentherm Incorporated (NASDAQ: THRM) is a global developer and supplier of advanced thermal management technologies for automotive, specialty vehicle, medical, consumer and industrial markets. The company’s core focus lies in delivering integrated heating and cooling systems designed to enhance energy efficiency, comfort and safety across a wide range of applications. Gentherm’s product portfolio includes seat thermal systems, heated and ventilated seating surfaces, steering wheel heaters, battery thermal management solutions, and climate systems for electric vehicles.

In the automotive sector, Gentherm partners with leading original equipment manufacturers to engineer and manufacture high-performance thermal solutions that meet stringent industry demands for reduced weight, lower energy consumption and improved passenger comfort.