JPMorgan Chase & Co. Lowers Gentex (NASDAQ:GNTX) Price Target to $32.00

Gentex (NASDAQ:GNTX) had its price target reduced by analysts at JPMorgan Chase & Co. from $34.00 to $32.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 24.42% from the company’s current price.

A number of other analysts also recently issued reports on GNTX. Bank of America lowered their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Robert W. Baird raised their price objective on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Finally, Guggenheim dropped their price target on shares of Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Gentex currently has an average rating of “Hold” and a consensus price target of $33.06.

Gentex Trading Up 2.2 %

Shares of NASDAQ GNTX opened at $25.72 on Monday. The stock has a market capitalization of $5.85 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.86 and a beta of 0.91. Gentex has a 12-month low of $24.57 and a 12-month high of $37.58. The stock’s fifty day simple moving average is $28.82 and its two-hundred day simple moving average is $29.68.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the prior year, the business posted $0.50 EPS. On average, equities analysts predict that Gentex will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Gentex

Hedge funds have recently bought and sold shares of the business. EdgePoint Investment Group Inc. increased its holdings in shares of Gentex by 1.5% in the third quarter. EdgePoint Investment Group Inc. now owns 7,699,919 shares of the auto parts company’s stock valued at $228,611,000 after purchasing an additional 111,500 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Gentex by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,368,004 shares of the auto parts company’s stock worth $159,406,000 after acquiring an additional 285,802 shares during the period. Disciplined Growth Investors Inc. MN boosted its position in shares of Gentex by 5.5% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 4,493,914 shares of the auto parts company’s stock valued at $133,424,000 after acquiring an additional 234,083 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Gentex by 16.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock valued at $80,079,000 after purchasing an additional 386,461 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Gentex by 179.7% during the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after purchasing an additional 1,285,519 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

About Gentex

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.