Gentex (NASDAQ:GNTX) Given New $24.00 Price Target at Guggenheim

Gentex (NASDAQ:GNTX - Get Free Report) had its price objective cut by stock analysts at Guggenheim from $30.00 to $24.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm presently has a "buy" rating on the auto parts company's stock. Guggenheim's target price would indicate a potential upside of 12.36% from the company's previous close.

Several other research analysts have also recently issued reports on GNTX. The Goldman Sachs Group dropped their target price on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. UBS Group cut their price objective on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. B. Riley restated a "buy" rating and issued a $32.50 price target (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. Baird R W lowered Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $28.31.

Gentex Stock Down 2.8 %

GNTX stock traded down $0.61 during trading on Tuesday, hitting $21.36. The company had a trading volume of 3,379,495 shares, compared to its average volume of 1,719,830. The firm has a market capitalization of $4.83 billion, a P/E ratio of 12.14, a PEG ratio of 0.84 and a beta of 0.84. Gentex has a 52-week low of $20.28 and a 52-week high of $35.33. The company has a 50 day simple moving average of $23.23 and a 200-day simple moving average of $26.88.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.01). The firm had revenue of $576.77 million during the quarter, compared to analysts' expectations of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same quarter in the previous year, the firm posted $0.47 EPS. Sell-side analysts forecast that Gentex will post 2.04 earnings per share for the current year.

Institutional Investors Weigh In On Gentex

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company's stock valued at $59,404,000 after buying an additional 1,285,519 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company's stock valued at $80,079,000 after purchasing an additional 386,461 shares during the last quarter. LPL Financial LLC boosted its stake in Gentex by 31.6% during the 4th quarter. LPL Financial LLC now owns 189,254 shares of the auto parts company's stock worth $5,437,000 after purchasing an additional 45,475 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Gentex during the fourth quarter worth about $24,479,000. Finally, BCGM Wealth Management LLC grew its stake in Gentex by 64.2% during the 4th quarter. BCGM Wealth Management LLC now owns 56,743 shares of the auto parts company's stock valued at $1,630,000 after acquiring an additional 22,180 shares in the last quarter. 86.76% of the stock is 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.