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

Gentex (NASDAQ:GNTX) had its price target dropped by JPMorgan Chase & Co. from $28.00 to $27.00 in a report released on Monday,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 13.23% from the company’s previous close.

GNTX has been the topic of several other reports. Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. UBS Group reiterated a “neutral” rating and issued a $25.00 price objective (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Robert W. Baird upped their target price on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. B. Riley Financial reaffirmed a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. Finally, Wall Street Zen lowered Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Gentex currently has a consensus rating of “Hold” and a consensus target price of $26.80.

Gentex Stock Down 1.0%

NASDAQ GNTX traded down $0.23 on Monday, reaching $23.84. The company had a trading volume of 990,943 shares, compared to its average volume of 2,357,371. The stock has a market capitalization of $5.08 billion, a P/E ratio of 12.63 and a beta of 0.79. The company’s fifty day moving average is $24.52 and its 200 day moving average is $23.49. Gentex has a 52-week low of $20.48 and a 52-week high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The business had revenue of $651.30 million for the quarter, compared to analysts’ expectations of $669.65 million. During the same period last year, the business earned $0.43 EPS. The business’s revenue was down 1.0% on a year-over-year basis. On average, research analysts expect that Gentex will post 1.99 EPS for the current year.

Insider Buying and Selling at Gentex

In other news, Director Brian C. Walker sold 5,939 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. Following the transaction, the director owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. This represents a 19.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Additional details regarding this sale are available in the official SEC disclosure. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC purchased a new position in shares of Gentex in the 1st quarter worth about $26,000. CIBC Private Wealth Group LLC raised its holdings in shares of Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after buying an additional 1,985 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Gentex in the 2nd quarter worth approximately $54,000. Arax Advisory Partners bought a new stake in Gentex in the 4th quarter worth approximately $52,000. Finally, AdvisorNet Financial Inc boosted its stake in Gentex by 2,299.0% in 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 in the last quarter. 86.76% of the stock is currently owned by hedge funds and other 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).