Gentex (NASDAQ:GNTX) Given New $40.00 Price Target at Robert W. Baird

Gentex (NASDAQ:GNTX) had its target price cut by stock analysts at Robert W. Baird from $41.00 to $40.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the auto parts company’s stock. Robert W. Baird’s target price would suggest a potential upside of 16.58% from the company’s previous close.

Several other brokerages have also recently weighed in on GNTX. Guggenheim raised their price target on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. B. Riley raised their price target on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Three research 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 a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

Gentex Price Performance

Shares of GNTX stock traded up $0.17 on Friday, reaching $34.31. 311,346 shares of the company were exchanged, compared to its average volume of 1,383,135. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 0.94 and a beta of 0.93. The company has a 50-day moving average of $34.22 and a 200-day moving average of $34.42. Gentex has a one year low of $27.86 and a one year high of $37.58.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The company had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. Gentex’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. As a group, sell-side analysts predict that Gentex will post 2.11 EPS for the current year.

Insider Activity at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $34.46, for a total transaction of $162,513.36. Following the completion of the sale, the director now directly owns 3,764 shares of the company’s stock, valued at $129,707.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.41% of the stock is owned by insiders.

Institutional Trading of Gentex

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its stake in shares of Gentex by 0.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 50,311 shares of the auto parts company’s stock worth $1,643,000 after purchasing an additional 336 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 363 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Gentex by 0.9% during the first quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company’s stock worth $1,530,000 after acquiring an additional 370 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Gentex by 0.5% during the fourth quarter. Eagle Asset Management Inc. now owns 69,808 shares of the auto parts company’s stock worth $2,280,000 after acquiring an additional 373 shares during the last quarter. Finally, JLB & Associates Inc. boosted its position in shares of Gentex by 1.7% during the first quarter. JLB & Associates Inc. now owns 24,381 shares of the auto parts company’s stock worth $881,000 after acquiring an additional 416 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

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.