Gentex (NASDAQ:GNTX) PT Lowered to $31.00

by · The Markets Daily

Gentex (NASDAQ:GNTX – Get Free Report) had its target price dropped by investment analysts at The Goldman Sachs Group from $33.00 to $31.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 5.19% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. B. Riley decreased their target price on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. UBS Group started coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price target for the company. Robert W. Baird decreased their price objective on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Finally, StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.29.

Check Out Our Latest Stock Report on GNTX

Gentex Price Performance

GNTX stock opened at $29.47 on Tuesday. The stock has a 50-day simple moving average of $30.07 and a two-hundred day simple moving average of $32.99. Gentex has a twelve month low of $27.86 and a twelve month high of $37.58. The firm has a market capitalization of $6.81 billion, a PE ratio of 15.59, a PEG ratio of 0.99 and a beta of 0.92.

Gentex (NASDAQ:GNTX – Get Free Report) last issued its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). The firm had revenue of $572.93 million for the quarter, compared to analysts’ expectations of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. On average, equities research analysts anticipate that Gentex will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Gentex

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the acquisition, the insider now owns 6,463,808 shares in the company, valued at approximately $32,319,040. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Gentex

Large investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management bought a new position in shares of Gentex during the fourth quarter valued at about $29,000. Quest Partners LLC bought a new position in Gentex during the 2nd quarter worth approximately $31,000. Gladius Capital Management LP purchased a new position in Gentex in the 2nd quarter worth approximately $34,000. EverSource Wealth Advisors LLC increased its stake in Gentex by 173.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 850 shares during the period. Finally, GAMMA Investing LLC lifted its position in Gentex by 26.3% in the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after purchasing an additional 363 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Company Profile

(Get Free Report)

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.

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