Gentex (NASDAQ:GNTX) Price Target Lowered to $31.00 at The Goldman Sachs Group

Gentex (NASDAQ:GNTX) had its target price cut by equities research analysts at The Goldman Sachs Group from $33.00 to $31.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 5.19% from the company’s previous close.

GNTX has been the subject of a number of other reports. B. Riley lowered their target price on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Tuesday, July 30th. Robert W. Baird decreased their price objective on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.29.

Gentex Trading Down 0.7 %

Gentex stock traded down $0.22 during midday trading on Tuesday, reaching $29.47. 1,108,839 shares of the stock traded hands, compared to its average volume of 1,444,769. The company has a 50-day simple moving average of $30.20 and a two-hundred day simple moving average of $33.06. Gentex has a 12-month low of $27.86 and a 12-month high of $37.58. The firm has a market cap of $6.81 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The firm had revenue of $572.93 million for the quarter, compared to analysts’ expectations of $623.28 million. Equities research analysts anticipate that Gentex will post 1.96 earnings per share for the current year.

Insider Transactions at Gentex

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management acquired a new position in Gentex during the fourth quarter worth approximately $29,000. Quest Partners LLC acquired a new position in Gentex during the second quarter worth approximately $31,000. Gladius Capital Management LP acquired a new position in Gentex during the second quarter worth approximately $34,000. EverSource Wealth Advisors LLC increased its position in Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after buying an additional 850 shares during the period. Finally, GAMMA Investing LLC increased its position in Gentex by 26.3% during the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after buying an additional 363 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.