Zions Bancorporation N.A. Increases Stake in Gentherm Incorporated (NASDAQ:THRM)

Zions Bancorporation N.A. boosted its position in Gentherm Incorporated (NASDAQ:THRM) by 18.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,869 shares of the auto parts company’s stock after purchasing an additional 4,923 shares during the quarter. Zions Bancorporation N.A. owned approximately 0.10% of Gentherm worth $1,484,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of THRM. American Century Companies Inc. increased its stake in Gentherm by 119.4% during 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 purchasing an additional 141,047 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Gentherm by 265.7% in 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 during the last quarter. Assenagon Asset Management S.A. bought a new position in Gentherm in the 3rd quarter valued at approximately $2,658,000. Roubaix Capital LLC purchased a new stake in Gentherm during the 1st quarter valued at $2,647,000. Finally, Pembroke Management LTD increased its holdings in shares of Gentherm by 16.6% in the 2nd quarter. Pembroke Management LTD now owns 319,230 shares of the auto parts company’s stock worth $15,744,000 after purchasing an additional 45,403 shares in the last quarter. 97.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

THRM has been the topic of several recent analyst 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 research report on Monday, October 21st. Craig Hallum dropped their price target on shares of Gentherm from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. StockNews.com raised shares of Gentherm from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, Robert W. Baird dropped their target price on shares of Gentherm from $54.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.00.

Gentherm Price Performance

NASDAQ THRM opened at $43.28 on Friday. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $1.34 billion, a P/E ratio of 20.22 and a beta of 1.44. The company has a 50-day moving average price of $44.33 and a 200-day moving average price of $48.53. Gentherm Incorporated has a 52 week low of $39.86 and a 52 week high of $62.93.

Gentherm (NASDAQ:THRM) last released its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. The business had revenue of $371.50 million for the quarter, compared to the consensus estimate of $372.89 million. Gentherm had a net margin of 4.61% and a return on equity of 14.36%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. Equities research analysts anticipate that Gentherm Incorporated will post 2.71 earnings per share for the current year.

Insider Transactions at Gentherm

In other news, CEO Phillip Eyler sold 4,402 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $50.20, for a total transaction of $220,980.40. Following the sale, the chief executive officer now directly owns 147,317 shares in the company, valued at $7,395,313.40. This trade represents a 2.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.91% of the company’s stock.

About Gentherm

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.