Allspring Global Investments Holdings LLC Boosts Stock Position in Gentherm Inc $THRM

Allspring Global Investments Holdings LLC raised its holdings in Gentherm Inc (NASDAQ:THRM) by 71.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 284,566 shares of the auto parts company’s stock after purchasing an additional 118,346 shares during the period. Allspring Global Investments Holdings LLC owned about 0.93% of Gentherm worth $9,692,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Diversified Trust Co increased its stake in shares of Gentherm by 6.2% in the third quarter. Diversified Trust Co now owns 9,909 shares of the auto parts company’s stock worth $338,000 after buying an additional 575 shares during the last quarter. Carnegie Investment Counsel acquired a new position in Gentherm during the 3rd quarter worth $237,000. CWM LLC grew its holdings in Gentherm by 35.5% during the 3rd quarter. CWM LLC now owns 7,024 shares of the auto parts company’s stock worth $239,000 after acquiring an additional 1,839 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Gentherm by 8.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,710 shares of the auto parts company’s stock worth $126,000 after purchasing an additional 304 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in shares of Gentherm in the 2nd quarter valued at about $281,000. Institutional investors and hedge funds own 97.13% of the company’s stock.

Gentherm Stock Up 2.4%

Shares of Gentherm stock opened at $37.71 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.33 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $36.48 and its 200-day simple moving average is $34.63. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 37.71 and a beta of 1.35. Gentherm Inc has a twelve month low of $22.75 and a twelve month high of $41.09.

Gentherm (NASDAQ:THRM) last released its quarterly earnings data on Thursday, October 23rd. The auto parts company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The business had revenue of $386.87 million during the quarter, compared to analyst estimates of $374.75 million. Gentherm had a return on equity of 9.55% and a net margin of 2.08%.The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. Equities research analysts forecast that Gentherm Inc will post 3.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on THRM. JPMorgan Chase & Co. lifted their price target on Gentherm from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Robert W. Baird set a $42.00 target price on Gentherm in a report on Friday, October 24th. Wall Street Zen upgraded Gentherm from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Gentherm in a report on Monday, December 29th. Finally, Roth Capital restated a “buy” rating and set a $44.00 price objective on shares of Gentherm in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

About Gentherm

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.