Lord Abbett & CO. LLC Has $3.19 Million Stake in Gentherm Inc $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 disclosure with the Securities & Exchange Commission. The fund owned 119,139 shares of the auto parts company's stock after selling 194,389 shares during the period. Lord Abbett & CO. LLC owned about 0.39% of Gentherm worth $3,186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of Montreal Can increased its holdings in Gentherm by 20.9% during the fourth quarter. Bank of Montreal Can now owns 6,167 shares of the auto parts company's stock worth $246,000 after buying an additional 1,067 shares during the last quarter. Invesco Ltd. increased its holdings in Gentherm by 16.8% during the fourth quarter. Invesco Ltd. now owns 238,975 shares of the auto parts company's stock worth $9,541,000 after buying an additional 34,353 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Gentherm during the fourth quarter worth $15,400,000. Barclays PLC increased its holdings in Gentherm by 1.4% during the fourth quarter. Barclays PLC now owns 62,346 shares of the auto parts company's stock worth $2,489,000 after buying an additional 880 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Gentherm during the fourth quarter worth $258,000. 97.13% of the stock is currently owned by institutional investors and hedge funds.

Gentherm Stock Performance

Shares of NASDAQ:THRM traded up $1.8250 on Friday, hitting $36.4950. The company had a trading volume of 69,944 shares, compared to its average volume of 311,128. Gentherm Inc has a 1-year low of $22.75 and a 1-year high of $51.73. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 35.68 and a beta of 1.45. The stock has a 50 day moving average price of $31.31 and a 200 day moving average price of $29.76. The company has a current ratio of 2.01, a quick ratio of 1.35 and a debt-to-equity ratio of 0.30.

Gentherm (NASDAQ:THRM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The auto parts company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.05). Gentherm had a net margin of 2.18% and a return on equity of 9.90%. The business had revenue of $375.09 million during the quarter, compared to analyst estimates of $358.09 million. During the same quarter last year, the company posted $0.66 earnings per share. The company's revenue was down .2% on a year-over-year basis. Gentherm has set its FY 2025 guidance at EPS. Analysts expect that Gentherm Inc will post 3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on THRM. Zacks Research downgraded shares of Gentherm from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Baird R W upgraded shares of Gentherm from a "hold" rating to a "strong-buy" rating in a report on Friday, July 11th. Robert W. Baird boosted their target price on shares of Gentherm from $28.00 to $35.00 and gave the stock an "outperform" rating in a report on Friday, July 11th. Wall Street Zen upgraded shares of Gentherm from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Gentherm from $37.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.00.

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.