Gentex (NASDAQ:GNTX) Stock Price Target Lowered at Robert W. Baird

Gentex (NASDAQ:GNTX) had its price target lowered by stock analysts at Robert W. Baird from $25.00 to $24.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. Robert W. Baird‘s target price points to a potential upside of 16.17% from the stock’s previous close.

Several other brokerages have also issued reports on GNTX. The Goldman Sachs Group lowered shares of Gentex from a “neutral” rating to a “sell” rating and lowered their price target for the company from $23.00 to $20.00 in a research note on Tuesday, October 6th. Weiss Ratings cut Gentex from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Freedom Capital downgraded Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. UBS Group dropped their target price on Gentex from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. dropped their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.80.

Gentex Price Performance

NASDAQ:GNTX opened at $20.66 on Monday. The company has a market cap of $4.40 billion, a P/E ratio of 11.11 and a beta of 0.86. Gentex has a twelve month low of $19.98 and a twelve month high of $26.48. The business has a 50 day moving average price of $22.26 and a two-hundred day moving average price of $23.30.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 23rd. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Gentex had a net margin of 15.15% and a return on equity of 16.67%. The business had revenue of $647.71 million during the quarter, compared to analyst estimates of $669.69 million. During the same quarter last year, the business earned $0.46 earnings per share. Gentex’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts anticipate that Gentex will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Gentex

A number of large investors have recently added to or reduced their stakes in GNTX. Bank of America Corp DE acquired a new stake in Gentex in the 2nd quarter valued at about $29,155,000. MAC Alpha Capital Management LP increased its position in Gentex by 36.0% during the second quarter. MAC Alpha Capital Management LP now owns 416,657 shares of the auto parts company’s stock worth $10,530,000 after buying an additional 110,300 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Gentex by 25,026.7% during the first quarter. Hillsdale Investment Management Inc. now owns 188,450 shares of the auto parts company’s stock worth $4,118,000 after buying an additional 187,700 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Gentex in the second quarter valued at approximately $1,533,000. Finally, BlackRock Inc. bought a new stake in Gentex in the second quarter valued at approximately $550,287,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

About Gentex

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.