Gentherm (NASDAQ:THRM) Shares Break Above 200 Day Moving Average – Here’s What Happened

Gentherm Inc (NASDAQ:THRM) shares crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $34.72 and traded as high as $35.44. Gentherm shares last traded at $35.21, with a volume of 863,395 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on THRM. Zacks Research upgraded Gentherm from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. upgraded shares of Gentherm from a “neutral” rating to an “overweight” rating and set a $48.00 price target on the stock in a research report on Tuesday, September 15th. Freedom Capital downgraded shares of Gentherm from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 24th. Weiss Ratings upgraded shares of Gentherm from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 29th. Finally, CJS Securities assumed coverage on shares of Gentherm in a research report on Monday, September 14th. They set an “outperform” rating and a $50.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

Gentherm Price Performance

The firm has a market capitalization of $1.08 billion, a P/E ratio of 40.47, a price-to-earnings-growth ratio of 0.80 and a beta of 1.34. The firm has a 50 day moving average price of $39.86 and a 200-day moving average price of $34.72. The company has a current ratio of 2.06, a quick ratio of 1.49 and a debt-to-equity ratio of 0.38.

Gentherm (NASDAQ:THRM) last announced its earnings results 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 firm had revenue of $416.17 million during the quarter, compared to analysts’ expectations of $382.90 million. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. On average, analysts expect that Gentherm Inc will post 2.92 earnings per share for the current year.

Gentherm Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Monday, September 28th will be paid a dividend of $1.90 per share.

Gentherm declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign 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 dated Wednesday, July 29th. The shares were sold at an average price of $43.21, for a total value of $203,087.00. Following the completion of the sale, the senior vice president owned 27,421 shares in the company, valued at approximately $1,184,861.41. This trade represents a 14.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Gentherm

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Gentherm during the second quarter valued at approximately $165,005,000. Deutsche Bank AG bought a new position in shares of Gentherm during the second quarter valued at approximately $1,296,000. Walleye Capital LLC purchased a new stake in shares of Gentherm in the second quarter worth approximately $802,000. Bessemer Group Inc. raised its holdings in shares of Gentherm by 50.5% in the first quarter. Bessemer Group Inc. now owns 129,695 shares of the auto parts company’s stock worth $3,603,000 after buying an additional 43,500 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Gentherm by 24.5% in the first quarter. Renaissance Technologies LLC now owns 271,464 shares of the auto parts company’s stock worth $7,541,000 after buying an additional 53,400 shares during the period. 97.13% of the stock is currently owned by institutional investors.

About Gentherm

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.