JPMorgan Chase & Co. Issues Pessimistic Forecast for Gentex (NASDAQ:GNTX) Stock Price

Gentex (NASDAQ:GNTX) had its price target cut by research analysts at JPMorgan Chase & Co. from $28.00 to $27.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 16.61% from the stock’s current price.

A number of other research analysts have also commented on GNTX. Robert W. Baird set a $26.00 price objective on shares of Gentex in a research note on Wednesday, January 14th. B. Riley Financial decreased their target price on Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. UBS Group reiterated a “neutral” rating and issued a $24.00 target price (down from $25.00) on shares of Gentex in a report on Tuesday, April 14th. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Gentex presently has an average rating of “Hold” and a consensus price target of $26.17.

Gentex Stock Performance

Shares of GNTX traded up $0.40 during mid-day trading on Thursday, reaching $23.16. 1,824,177 shares of the company’s stock traded hands, compared to its average volume of 2,197,733. Gentex has a 12 month low of $20.48 and a 12 month high of $29.38. The stock has a market capitalization of $4.95 billion, a P/E ratio of 13.31 and a beta of 0.77. The business’s 50-day moving average price is $22.39 and its 200-day moving average price is $23.39.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $644.40 million during the quarter, compared to analyst estimates of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. Equities research analysts anticipate that Gentex will post 1.93 EPS for the current year.

Insider Buying and Selling at Gentex

In other Gentex news, CTO Neil Boehm sold 11,248 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.82, for a total value of $279,175.36. Following the transaction, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at $1,463,163.82. This represents a 16.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kevin C. Nash sold 11,885 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total transaction of $296,887.30. Following the transaction, the chief financial officer directly owned 59,430 shares in the company, valued at approximately $1,484,561.40. The trade was a 16.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,133 shares of company stock worth $1,442,313 over the last 90 days. 0.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

A number of large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its holdings in shares of Gentex by 14,398.7% during the 4th quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock worth $179,785,000 after buying an additional 7,672,769 shares during the period. Caisse de depot et placement du Quebec boosted its holdings in Gentex by 297.0% during the fourth quarter. Caisse de depot et placement du Quebec now owns 3,144,881 shares of the auto parts company’s stock valued at $73,181,000 after acquiring an additional 2,352,668 shares during the period. Norges Bank acquired a new stake in shares of Gentex in the fourth quarter valued at about $52,767,000. Wellington Management Group LLP grew its position in shares of Gentex by 10.3% in the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock valued at $419,636,000 after purchasing an additional 1,383,203 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Gentex by 25.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,629,380 shares of the auto parts company’s stock worth $154,271,000 after purchasing an additional 1,349,445 shares during the period. Institutional investors own 86.76% of the company’s stock.

About Gentex

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).