Gentherm Inc (NASDAQ:THRM) fell 10.3% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $34.50 and last traded at $35.15, with a volume of 692,959 shares. The stock had previously closed at $39.20.
The auto parts company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.38. Gentherm had a net margin of 9.47% and a return on equity of 19.53%. The business had revenue of $243.40 million during the quarter, compared to analyst estimates of $244.48 million. During the same period last year, the firm posted $0.59 earnings per share. Gentherm’s quarterly revenue was up 4.6% compared to the same quarter last year.
A number of brokerages have recently weighed in on THRM. BMO Capital Markets upped their target price on Gentherm from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. BidaskClub lowered Gentherm from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Gentherm from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. ValuEngine lowered Gentherm from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, FBR & Co reaffirmed an “outperform” rating and set a $45.00 target price on shares of Gentherm in a research report on Wednesday, May 31st. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $42.00.
In related news, VP Erin Erwine Ascher sold 1,800 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $39.17, for a total transaction of $70,506.00. Following the completion of the sale, the vice president now owns 23,839 shares in the company, valued at $933,773.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Darren Schumacher sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $37.59, for a total value of $563,850.00. Following the sale, the insider now owns 47,881 shares of the company’s stock, valued at approximately $1,799,846.79. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its stake in shares of Gentherm by 8.2% in the first quarter. Great West Life Assurance Co. Can now owns 51,480 shares of the auto parts company’s stock valued at $2,018,000 after buying an additional 3,904 shares during the period. Pembroke Management LTD increased its stake in shares of Gentherm by 40.5% in the first quarter. Pembroke Management LTD now owns 631,408 shares of the auto parts company’s stock valued at $24,782,000 after buying an additional 181,900 shares during the period. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in shares of Gentherm during the first quarter valued at about $1,906,000. First Bank & Trust increased its stake in shares of Gentherm by 5.2% in the first quarter. First Bank & Trust now owns 3,371 shares of the auto parts company’s stock valued at $132,000 after buying an additional 166 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its stake in shares of Gentherm by 2.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 147,788 shares of the auto parts company’s stock valued at $5,801,000 after buying an additional 3,690 shares during the period. Institutional investors and hedge funds own 98.54% of the company’s stock.
The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 14.194 and a beta of 1.96. The stock has a 50 day moving average of $38.79 and a 200 day moving average of $37.00.
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Gentherm Company Profile
Gentherm Incorporated (Gentherm) is a global technology company engaged in the design, development, and manufacturing of thermal management technologies. The Company has two segments: Automotive and Industrial. Its products provide solutions for automotive passenger comfort and convenience, battery thermal management, remote power generation, patient temperature management, environmental product testing and other consumer and industrial temperature control needs.
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