Gentex (NASDAQ:GNTX) PT Lowered to $31.00 at The Goldman Sachs Group

Gentex (NASDAQ:GNTX - Get Free Report) had its price target reduced by research analysts at The Goldman Sachs Group from $33.00 to $31.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the auto parts company's stock. The Goldman Sachs Group's price objective indicates a potential upside of 5.19% from the company's previous close.

A number of other equities analysts have also commented on GNTX. UBS Group began coverage on shares of Gentex in a research report on Wednesday, September 4th. They issued a "neutral" rating and a $34.00 price objective for the company. BNP Paribas cut shares of Gentex from an "outperform" rating to a "neutral" rating and set a $34.00 price target on the stock. in a report on Tuesday, July 30th. Robert W. Baird dropped their price objective on Gentex from $40.00 to $38.00 and set an "outperform" rating for the company in a research note on Monday, July 29th. StockNews.com cut Gentex from a "buy" rating to a "hold" rating in a research report on Thursday, July 4th. Finally, B. Riley cut their price target on shares of Gentex from $44.00 to $41.00 and set a "buy" rating for the company in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Gentex presently has an average rating of "Hold" and a consensus price target of $36.29.

Gentex Stock Down 0.7 %

GNTX traded down $0.22 on Tuesday, hitting $29.47. The company's stock had a trading volume of 2,844,728 shares, compared to its average volume of 1,453,954. The company's 50 day simple moving average is $30.13 and its 200-day simple moving average is $33.01. Gentex has a 12 month low of $27.86 and a 12 month high of $37.58. The firm has a market cap of $6.81 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). The company had revenue of $572.93 million during 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%. Equities analysts predict that Gentex will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Corp Gentex bought 3,152,500 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares of the company's stock, valued at approximately $32,319,040. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On Gentex

Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in shares of Gentex by 8.3% during the 4th quarter. Wells Fargo & Company MN now owns 276,399 shares of the auto parts company's stock valued at $9,027,000 after buying an additional 21,148 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Gentex by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 107,246 shares of the auto parts company's stock valued at $3,503,000 after purchasing an additional 1,019 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Gentex by 0.5% during the fourth quarter. Eagle Asset Management Inc. now owns 69,808 shares of the auto parts company's stock valued at $2,280,000 after purchasing an additional 373 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Gentex by 5.3% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 19,366 shares of the auto parts company's stock valued at $632,000 after purchasing an additional 981 shares during the last quarter. Finally, KBC Group NV bought a new stake in shares of Gentex in the 4th quarter worth approximately $144,000. 86.76% of the stock is currently owned by 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.