Gentex (NASDAQ:GNTX) Given New $41.00 Price Target at Guggenheim

Gentex (NASDAQ:GNTX) had its target price hoisted by investment analysts at Guggenheim from $40.00 to $41.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the auto parts company’s stock. Guggenheim’s price objective points to a potential upside of 22.35% from the stock’s previous close.

GNTX has been the subject of several other reports. JPMorgan Chase & Co. lifted their price target on Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. The Goldman Sachs Group lifted their price target on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. StockNews.com upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, B. Riley lifted their price target on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.83.

Gentex Stock Down 0.5 %

Shares of Gentex stock traded down $0.17 on Wednesday, reaching $33.51. 1,142,592 shares of the stock were exchanged, compared to its average volume of 1,422,067. Gentex has a twelve month low of $25.85 and a twelve month high of $37.58. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 0.72 and a beta of 0.99. The business has a 50 day moving average price of $35.78 and a two-hundred day moving average price of $32.96.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The firm had revenue of $589.13 million during the quarter, compared to the consensus estimate of $563.42 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. Research analysts forecast that Gentex will post 2.16 EPS for the current year.

Insider Transactions at Gentex

In related news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the transaction, the director now directly owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Gentex

Large investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC grew its holdings in Gentex by 414.3% in the 1st quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company’s stock valued at $25,000 after buying an additional 725 shares in the last quarter. Point72 Europe London LLP purchased a new stake in Gentex in the 4th quarter valued at $25,000. Neo Ivy Capital Management purchased a new stake in Gentex in the 4th quarter valued at $29,000. National Bank of Canada FI grew its holdings in Gentex by 159.1% in the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after buying an additional 571 shares in the last quarter. Finally, VisionPoint Advisory Group LLC grew its holdings in Gentex by 123.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after buying an additional 665 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

About Gentex

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.