B. Riley Lowers Gentex (NASDAQ:GNTX) Price Target to $28.00

Gentex (NASDAQ:GNTX) had its price objective lowered by analysts at B. Riley from $32.00 to $28.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the auto parts company’s stock. B. Riley’s target price indicates a potential upside of 19.83% from the stock’s current price.

GNTX has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their target price on Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, October 20th. The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the company a “neutral” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research report on Thursday, January 22nd. UBS Group restated a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Gentex in a research report on Monday, October 6th. Finally, Robert W. Baird set a $26.00 price target on shares of Gentex in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.71.

Gentex Price Performance

GNTX stock traded up $0.36 during midday trading on Monday, hitting $23.37. The stock had a trading volume of 414,367 shares, compared to its average volume of 2,506,343. The firm has a market cap of $5.12 billion, a PE ratio of 13.43 and a beta of 0.78. Gentex has a 12-month low of $20.28 and a 12-month high of $29.38. The company’s 50-day moving average price is $23.54 and its 200 day moving average price is $25.28.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 30th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The firm had revenue of $644.40 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, sell-side analysts anticipate that Gentex will post 2.04 EPS for the current year.

Institutional Trading of Gentex

A number of institutional investors and hedge funds have recently made changes to their positions in GNTX. New York State Teachers Retirement System increased its position in Gentex by 19.2% in the fourth quarter. New York State Teachers Retirement System now owns 250,597 shares of the auto parts company’s stock worth $5,831,000 after purchasing an additional 40,426 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Gentex by 24.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 96,807 shares of the auto parts company’s stock valued at $2,253,000 after purchasing an additional 19,205 shares in the last quarter. Cardinal Capital Management grew its position in shares of Gentex by 1.9% during the fourth quarter. Cardinal Capital Management now owns 75,050 shares of the auto parts company’s stock worth $1,746,000 after acquiring an additional 1,383 shares during the last quarter. M&T Bank Corp boosted its position in Gentex by 22.0% during the fourth quarter. M&T Bank Corp now owns 28,936 shares of the auto parts company’s stock worth $674,000 after purchasing an additional 5,223 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Gentex by 13.0% during the 4th quarter. Comerica Bank now owns 125,147 shares of the auto parts company’s stock worth $2,912,000 after buying an additional 14,433 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

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).