UBS Group Cuts Gentex (NASDAQ:GNTX) Price Target to $24.00

Gentex (NASDAQ:GNTX) had its price target cut by investment analysts at UBS Group from $25.00 to $24.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. UBS Group’s price objective would indicate a potential upside of 13.85% from the company’s previous close.

GNTX has been the topic of several other reports. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. The Goldman Sachs Group lowered shares of Gentex from a “neutral” rating to a “sell” rating and lowered their target price for the company from $23.00 to $20.00 in a research note on Tuesday. Freedom Capital lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research report on Friday, September 18th. Finally, JPMorgan Chase & Co. cut their price target on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. One equities research 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 stock currently has a consensus rating of “Hold” and a consensus target price of $25.20.

Gentex Stock Down 2.2%

GNTX stock traded down $0.47 during midday trading on Wednesday, hitting $21.08. The company’s stock had a trading volume of 3,115,297 shares, compared to its average volume of 2,357,233. Gentex has a 52-week low of $20.48 and a 52-week high of $26.99. The firm has a 50-day simple moving average of $22.97 and a 200-day simple moving average of $23.34. The firm has a market capitalization of $4.49 billion, a P/E ratio of 11.15 and a beta of 0.86.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $651.30 million for the quarter, compared to analyst estimates of $669.65 million. During the same quarter last year, the company posted $0.43 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts expect that Gentex will post 2.07 earnings per share for the current fiscal year.

Institutional Trading of Gentex

Several institutional investors and hedge funds have recently bought and sold shares of GNTX. Anchor Investment Management LLC bought a new position in Gentex in the first quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Gentex in the 2nd quarter valued at about $54,000. AdvisorNet Financial Inc lifted its holdings in shares of Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after purchasing an additional 2,299 shares in the last quarter. North Point Portfolio Managers Corp OH purchased a new position in Gentex in the third quarter worth $55,000. Finally, Versant Capital Management Inc increased its holdings in Gentex by 28.7% in the 2nd quarter. Versant Capital Management Inc now owns 2,698 shares of the auto parts company’s stock worth $68,000 after acquiring an additional 602 shares during the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Company Profile

Gentex Corporation develops, manufactures and supplies technology products for the automotive, aerospace and fire-protection industries. The company is best known for its automatic-dimming rearview mirrors, which use electrochromic technology to reduce glare, as well as related interior and exterior vehicle electronics.

Gentex’s automotive portfolio also includes camera-based driver-assistance systems, connected-car technologies, vehicle lighting and sensing products, biometric and occupant-monitoring systems, and integrated electronic features designed to improve vehicle safety, comfort and convenience.