Gentex (NASDAQ:GNTX) Hits New 52-Week Low – Here’s What Happened

Gentex Co. (NASDAQ:GNTX) reached a new 52-week low on Tuesday . The company traded as low as $24.10 and last traded at $24.50, with a volume of 2010556 shares. The stock had previously closed at $24.37.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GNTX. JPMorgan Chase & Co. lowered their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. B. Riley reaffirmed a “buy” rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. UBS Group dropped their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Robert W. Baird set a $31.00 price objective on shares of Gentex in a research report on Monday, February 3rd. Finally, Guggenheim lowered their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.31.

Gentex Trading Up 0.5 %

The company has a market cap of $5.57 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.84 and a beta of 0.91. The company’s 50-day moving average price is $27.10 and its two-hundred day moving average price is $29.02.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the company earned $0.50 earnings per share. As a group, analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current year.

Institutional Investors Weigh In On Gentex

Several institutional investors and hedge funds have recently made changes to their positions in GNTX. JPMorgan Chase & Co. boosted its holdings in Gentex by 179.7% in 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 period. Geode Capital Management LLC lifted its position in shares of Gentex by 5.6% in 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 buying an additional 285,802 shares during the last quarter. Barclays PLC boosted its holdings in shares of Gentex by 54.4% in the 3rd quarter. Barclays PLC now owns 107,930 shares of the auto parts company’s stock valued at $3,205,000 after buying an additional 38,027 shares during the period. Reinhart Partners LLC. grew its position in shares of Gentex by 1.9% during the 4th quarter. Reinhart Partners LLC. now owns 1,124,403 shares of the auto parts company’s stock valued at $32,304,000 after buying an additional 20,624 shares during the last quarter. Finally, Hendershot Investments Inc. raised its stake in Gentex by 3.8% during the fourth quarter. Hendershot Investments Inc. now owns 659,066 shares of the auto parts company’s stock worth $18,935,000 after acquiring an additional 24,231 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

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.