Lord Abbett & CO. LLC Sells 194,389 Shares of Gentherm Inc (NASDAQ:THRM)

Key Points

• Lord Abbett & CO. LLC reduced its holdings in Gentherm Inc by 62.0%, selling 194,389 shares during the first quarter, leaving them with 119,139 shares valued at approximately $3,186,000.
• Gentherm reported a miss in earnings for the last quarter, posting $0.54 per share against the expected $0.59, although their revenue of $375.09 million surpassed expectations of $358.09 million.
• Wall Street analysts generally maintain a positive outlook for Gentherm, with a consensus rating of "Buy" and an average price target of $46.00.

Lord Abbett & CO. LLC cut its holdings in Gentherm Inc (NASDAQ:THRM - Free Report) by 62.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 119,139 shares of the auto parts company's stock after selling 194,389 shares during the period. Lord Abbett & CO. LLC owned 0.39% of Gentherm worth $3,186,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC bought a new position in shares of Gentherm in the first quarter worth about $26,000. Versant Capital Management Inc bought a new position in Gentherm during the first quarter valued at about $28,000. Quarry LP increased its stake in Gentherm by 226.8% during the fourth quarter. Quarry LP now owns 1,755 shares of the auto parts company's stock valued at $70,000 after acquiring an additional 1,218 shares during the period. GAMMA Investing LLC increased its stake in Gentherm by 332.4% during the first quarter. GAMMA Investing LLC now owns 2,106 shares of the auto parts company's stock valued at $56,000 after acquiring an additional 1,619 shares during the period. Finally, US Bancorp DE increased its stake in Gentherm by 20.2% during the first quarter. US Bancorp DE now owns 3,364 shares of the auto parts company's stock valued at $90,000 after acquiring an additional 565 shares during the period. 97.13% of the stock is currently owned by institutional investors.

Gentherm Stock Down 1.1%

NASDAQ THRM opened at $35.04 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.35 and a debt-to-equity ratio of 0.30. The stock's 50 day moving average is $30.76 and its two-hundred day moving average is $29.78. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 34.35 and a beta of 1.45. Gentherm Inc has a 1-year low of $22.75 and a 1-year high of $51.73.

Gentherm (NASDAQ:THRM - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The auto parts company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.59 by ($0.05). The company had revenue of $375.09 million for the quarter, compared to analyst estimates of $358.09 million. Gentherm had a net margin of 2.18% and a return on equity of 9.90%. The firm's revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities analysts forecast that Gentherm Inc will post 3.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Gentherm from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Robert W. Baird boosted their price target on Gentherm from $28.00 to $35.00 and gave the company an "outperform" rating in a research note on Friday, July 11th. Wall Street Zen upgraded Gentherm from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Baird R W upgraded Gentherm from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $46.00.

Gentherm Profile

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.

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