Gentex (NASDAQ:GNTX) Stock Price Target Cut by JPMorgan Chase & Co.

Gentex (NASDAQ:GNTX) had its price objective dropped by JPMorgan Chase & Co. from $27.00 to $26.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 26.14% from the company’s current price.

Several other brokerages have also recently issued reports on GNTX. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group reissued a “neutral” rating on shares of Gentex in a research note on Monday. The Goldman Sachs Group cut Gentex from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $23.00 to $20.00 in a report on Tuesday, October 6th. Robert W. Baird dropped their price target on Gentex from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday. Finally, B. Riley Financial cut their price target on Gentex from $29.00 to $25.00 and set a “buy” rating for the company in a report on Monday. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Gentex presently has a consensus rating of “Hold” and a consensus price target of $23.20.

Gentex Stock Down 0.2%

Shares of Gentex stock traded down $0.05 during trading hours on Monday, reaching $20.61. 836,284 shares of the company’s stock were exchanged, compared to its average volume of 2,408,341. The business has a fifty day moving average of $22.26 and a two-hundred day moving average of $23.30. The company has a market capitalization of $4.39 billion, a P/E ratio of 11.09 and a beta of 0.86. Gentex has a 1 year low of $19.98 and a 1 year high of $26.48.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. XXEC Inc. purchased a new stake in shares of Gentex in the second quarter valued at about $7,705,220,000. BlackRock Inc. acquired a new stake in Gentex during the second quarter worth about $550,287,000. Dimensional Fund Advisors LP raised its stake in Gentex by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock worth $163,067,000 after purchasing an additional 833,919 shares during the period. Caisse de depot et placement du Quebec purchased a new position in Gentex during the second quarter worth about $79,924,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Gentex by 21.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,995,044 shares of the auto parts company’s stock valued at $65,442,000 after purchasing an additional 534,905 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Company Profile

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.