Gentex (NASDAQ:GNTX – Get Free Report) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $28.00 to $27.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 13.23% from the stock’s previous close.
GNTX has been the subject of a number of other reports. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. UBS Group reiterated a “neutral” rating and issued a $25.00 target price (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. Robert W. Baird boosted their target price on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. B. Riley Financial reissued a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Finally, Freedom Capital downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.80.
View Our Latest Stock Analysis on Gentex
Gentex Trading Down 1.0%
Gentex (NASDAQ:GNTX – Get Free Report) last released its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 earnings per share. As a group, sell-side analysts anticipate that Gentex will post 1.99 EPS for the current year.
Insider Buying and Selling at Gentex
In other Gentex news, Director Brian C. Walker sold 5,939 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the transaction, the director directly owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. The trade was a 19.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of Gentex stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is owned by insiders.
Institutional Investors Weigh In On Gentex
A number of hedge funds have recently added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in shares of Gentex in the 1st quarter worth $26,000. AdvisorNet Financial Inc raised its holdings in Gentex by 2,299.0% during the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after buying an additional 2,299 shares during the last quarter. Arax Advisory Partners acquired a new position in Gentex during the fourth quarter worth $52,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Gentex in the second quarter valued at $54,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Gentex during the fourth quarter valued at about $56,000. Institutional investors and hedge funds 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).
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