B. Riley Trims Gentex (NASDAQ:GNTX) Target Price to $41.00

Gentex (NASDAQ:GNTX) had its target price decreased by stock analysts at B. Riley from $44.00 to $41.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the auto parts company’s stock. B. Riley’s target price would suggest a potential upside of 31.28% from the stock’s current price.

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Guggenheim lifted their target price on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Robert W. Baird reduced their target price on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday. Finally, StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Gentex Stock Performance

Gentex stock traded up $0.03 during mid-day trading on Monday, reaching $31.23. The company’s stock had a trading volume of 949,416 shares, compared to its average volume of 1,395,304. The business’s 50 day simple moving average is $33.97 and its 200 day simple moving average is $34.56. Gentex has a 12 month low of $27.86 and a 12 month high of $37.58. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.90 and a beta of 0.93.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The firm had revenue of $590.23 million during the quarter, compared to the consensus estimate of $600.38 million. During the same period last year, the business earned $0.42 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that Gentex will post 2.09 EPS for the current year.

Insiders Place Their Bets

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of Gentex stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $34.46, for a total value of $162,513.36. Following the completion of the sale, the director now owns 3,764 shares in the company, valued at approximately $129,707.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Gentex

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Gentex by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after purchasing an additional 163,373 shares in the last quarter. Wellington Management Group LLP increased its position in Gentex by 27.9% during the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after purchasing an additional 1,905,356 shares in the last quarter. Boston Partners increased its position in Gentex by 4.2% during the 1st quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock worth $206,095,000 after purchasing an additional 230,873 shares in the last quarter. TD Asset Management Inc increased its position in Gentex by 41.2% during the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after purchasing an additional 1,363,898 shares in the last quarter. Finally, Burgundy Asset Management Ltd. increased its position in Gentex by 1.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 4,217,464 shares of the auto parts company’s stock worth $152,335,000 after purchasing an additional 48,435 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.