BNP Paribas Exane Has Lowered Expectations for Gentex (NASDAQ:GNTX) Stock Price

Key Points

• BNP Paribas Exane lowered Gentex’s price target from $23.00 to $22.50 while maintaining a neutral rating, implying roughly 9% upside from the stock’s $20.62 price.
• Analyst sentiment remains cautious: Gentex has an average “Hold” rating, with one Buy, six Holds, and one Sell; the consensus price target is $23.08. B. Riley retained a Buy rating but also cut its target to $25.00 from $29.00.
• Gentex’s latest quarterly results fell short of expectations, with EPS of $0.47 versus $0.50 expected and revenue of $647.71 million versus $669.69 million projected. Revenue declined 1.1% year over year.

Gentex (NASDAQ:GNTX - Get Free Report) had its price objective lowered by investment analysts at BNP Paribas Exane from $23.00 to $22.50 in a report released on Monday, Benzinga reports. The firm presently has a "neutral" rating on the auto parts company's stock. BNP Paribas Exane's price objective points to a potential upside of 9.09% from the stock's current price.

A number of other brokerages have also issued reports on GNTX. B. Riley Financial lowered their price target on Gentex from $29.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday. Freedom Capital lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Wall Street Zen cut shares of Gentex from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. UBS Group reaffirmed a "neutral" rating on shares of Gentex in a research report on Monday. Finally, Robert W. Baird decreased their target price on Gentex from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $23.08.

Gentex Price Performance

NASDAQ GNTX traded down $0.04 on Monday, hitting $20.62. The stock had a trading volume of 1,179,145 shares, compared to its average volume of 2,410,496. The business's fifty day moving average price is $22.26 and its 200 day moving average price is $23.30. Gentex has a 52-week low of $19.98 and a 52-week high of $26.48. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 11.08 and a beta of 0.86.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, October 23rd. The auto parts company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.03). The firm 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 revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS. As a group, sell-side analysts anticipate that Gentex will post 2.06 EPS for the current year.

Hedge Funds Weigh In On Gentex

Several hedge funds have recently bought and sold shares of the company. XXEC Inc. acquired a new stake in Gentex in the second quarter valued at $7,705,220,000. BlackRock Inc. acquired a new position in shares of Gentex during the 2nd quarter worth $550,287,000. Dimensional Fund Advisors LP boosted its position in shares of Gentex by 12.6% in 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 buying an additional 833,919 shares in the last quarter. Caisse de depot et placement du Quebec purchased a new stake in shares of Gentex in the 2nd quarter worth about $79,924,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Gentex by 21.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,995,044 shares of the auto parts company's stock valued at $65,442,000 after acquiring an additional 534,905 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex News Summary

Here are the key news stories impacting Gentex this week:

• Positive Sentiment: B. Riley maintained a Buy rating and sees potential upside to $25, although it reduced its price target from $29. The firm’s constructive view provides some support for GNTX, particularly if new automotive technology programs drive future growth. Benzinga analyst coverage

Gentex Company Profile

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.

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