JPMorgan Chase & Co. Lowers Gentex (NASDAQ:GNTX) Price Target to $27.00

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

A number of other equities research analysts also recently weighed in on the stock. B. Riley Financial dropped their price target on shares of Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. UBS Group reissued a “neutral” rating and set a $24.00 price target (down from $25.00) on shares of Gentex in a research report on Tuesday, April 14th. Robert W. Baird set a $26.00 price target on shares of Gentex in a report on Wednesday, January 14th. Finally, Freedom Capital raised Gentex to a “strong-buy” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.17.

Gentex Stock Up 1.7%

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

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

Insider Buying and Selling

In other Gentex news, CTO Neil Boehm sold 11,248 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the sale, the chief technology officer directly owned 58,951 shares of the company’s stock, valued at $1,463,163.82. The trade was a 16.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Steven R. Downing sold 35,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.75, for a total transaction of $866,250.00. Following the transaction, the chief executive officer owned 211,670 shares of the company’s stock, valued at approximately $5,238,832.50. This represents a 14.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 58,133 shares of company stock worth $1,442,313. 0.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Gentex by 10.3% during the 3rd quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock worth $419,636,000 after purchasing an additional 1,383,203 shares during the last quarter. Bank of Montreal Can increased its holdings in Gentex by 14,398.7% during the fourth 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 last quarter. State Street Corp raised its position in Gentex by 1.0% during the second quarter. State Street Corp now owns 7,439,333 shares of the auto parts company’s stock worth $163,591,000 after acquiring an additional 74,779 shares in the last quarter. American Century Companies Inc. grew its position in shares of Gentex by 2.0% in the 3rd quarter. American Century Companies Inc. now owns 6,742,293 shares of the auto parts company’s stock valued at $190,807,000 after acquiring an additional 131,035 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Gentex by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock worth $190,330,000 after purchasing an additional 1,206,060 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Company Profile

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).