Gentex (NASDAQ:GNTX) Stock Price Target Cut by Robert W. Baird

Gentex (NASDAQ:GNTX) had its price target reduced by analysts at Robert W. Baird from $25.00 to $24.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the auto parts company’s stock. Robert W. Baird‘s price target suggests a potential upside of 16.17% from the stock’s current price.

Several other research firms have also recently weighed in on GNTX. Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. UBS Group lowered their target price on Gentex from $25.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Weiss Ratings cut Gentex from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.80.

Gentex Price Performance

Shares of GNTX opened at $20.66 on Monday. The firm has a market capitalization of $4.40 billion, a PE ratio of 11.11 and a beta of 0.86. The company’s 50-day moving average is $22.26 and its 200-day moving average is $23.30. Gentex has a fifty-two week low of $19.98 and a fifty-two week high of $26.48.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 23rd. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $647.71 million for the quarter, compared to analyst estimates of $669.69 million. Gentex had a return on equity of 16.67% and a net margin of 15.15%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. Analysts predict that Gentex will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Gentex

Several hedge funds and other institutional investors have recently bought and sold shares of GNTX. XXEC Inc. bought a new stake in shares of Gentex in the second quarter valued at approximately $7,705,220,000. BlackRock Inc. acquired a new stake in shares of Gentex during the 2nd quarter worth $550,287,000. Dimensional Fund Advisors LP grew its holdings in shares of Gentex by 12.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock worth $163,067,000 after purchasing an additional 833,919 shares in the last quarter. Caisse de depot et placement du Quebec acquired a new stake in shares of Gentex during the 2nd quarter worth $79,924,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Gentex by 21.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,995,044 shares of the auto parts company’s stock worth $65,442,000 after purchasing an additional 534,905 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

About Gentex

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.