Analysts Set Gentex Corporation (NASDAQ:GNTX) Target Price at $26.83

Shares of Gentex Corporation (NASDAQ:GNTX) have received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $26.8333.

GNTX has been the topic of a number of recent research reports. Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. JPMorgan Chase & Co. increased their price objective on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. B. Riley Financial reiterated a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. Freedom Capital upgraded Gentex to a “strong-buy” rating in a research report on Friday, March 27th. Finally, UBS Group set a $26.00 price objective on Gentex in a research report on Sunday, April 26th.

Insiders Place Their Bets

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the transaction, the director owned 81,443 shares in the company, valued at approximately $1,898,436.33. This represents a 5.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the transaction, the director owned 24,205 shares of the company’s stock, valued at $556,230.90. The trade was a 19.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,693 shares of company stock worth $385,194. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Gentex

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its position in shares of Gentex by 33.1% in the first quarter. Royal Bank of Canada now owns 189,561 shares of the auto parts company’s stock valued at $4,418,000 after purchasing an additional 47,150 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Gentex by 1.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,321,634 shares of the auto parts company’s stock valued at $30,794,000 after purchasing an additional 23,454 shares during the period. Empowered Funds LLC boosted its stake in Gentex by 255.6% in the 1st quarter. Empowered Funds LLC now owns 81,142 shares of the auto parts company’s stock valued at $1,891,000 after purchasing an additional 58,323 shares during the period. Invesco Ltd. raised its position in shares of Gentex by 8.0% in the second quarter. Invesco Ltd. now owns 813,163 shares of the auto parts company’s stock valued at $17,881,000 after buying an additional 60,127 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Gentex by 2,038.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,512 shares of the auto parts company’s stock valued at $99,000 after buying an additional 4,301 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

NASDAQ GNTX opened at $24.15 on Thursday. The firm has a market cap of $5.14 billion, a PE ratio of 13.57 and a beta of 0.78. Gentex has a one year low of $20.48 and a one year high of $29.38. The stock’s 50 day simple moving average is $22.49 and its 200 day simple moving average is $23.08.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. As a group, equities analysts expect that Gentex will post 1.96 earnings per share for the current year.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).