Gentex (NASDAQ:GNTX) Stock Price Target Cut by B. Riley Financial

Key Points

• B. Riley Financial cut Gentex’s price target from $29 to $25 while maintaining a “buy” rating, implying approximately 21% upside from the previous close.
• Analyst sentiment is mixed: Gentex has an overall “hold” consensus rating, with one buy, five hold, and one sell rating, and a consensus price target of $23.40.
• Gentex recently missed quarterly expectations, reporting $0.47 in earnings per share versus a $0.50 estimate and revenue of $647.71 million versus $669.69 million expected; shares traded near $20.65.

Gentex (NASDAQ:GNTX - Get Free Report) had its price target lowered by B. Riley Financial from $29.00 to $25.00 in a report released on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the auto parts company's stock. B. Riley Financial's target price points to a potential upside of 21.07% from the stock's previous close.

GNTX has been the topic of several other reports. Weiss Ratings cut shares of Gentex from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. Freedom Capital downgraded shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. UBS Group set a $21.00 price objective on shares of Gentex in a report on Monday. Wall Street Zen downgraded shares of Gentex from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $23.40.

Gentex Trading Down 0.0%

GNTX stock traded down $0.01 during midday trading on Monday, hitting $20.65. 291,021 shares of the company's stock were exchanged, compared to its average volume of 2,406,063. The firm has a 50 day moving average price of $22.26 and a 200-day moving average price of $23.30. Gentex has a 12-month low of $19.98 and a 12-month high of $26.48. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 11.13 and a beta of 0.86.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, October 23rd. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $647.71 million for the quarter, compared to analysts' expectations of $669.69 million. Gentex had a net margin of 15.15% and a return on equity of 16.67%. The business's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. On average, sell-side analysts forecast that Gentex will post 2.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Gentex

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crumly & Associates Inc. lifted its stake in Gentex by 3.7% during the second quarter. Crumly & Associates Inc. now owns 13,291 shares of the auto parts company's stock worth $336,000 after purchasing an additional 478 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Gentex by 1.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company's stock valued at $662,000 after purchasing an additional 487 shares during the last quarter. Sei Investments Co. increased its stake in shares of Gentex by 0.3% in the 1st quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company's stock valued at $4,300,000 after purchasing an additional 521 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Gentex by 5.2% in the 2nd quarter. Central Pacific Bank Trust Division now owns 11,175 shares of the auto parts company's stock valued at $282,000 after purchasing an additional 550 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of Gentex by 5.1% during the 2nd quarter. HB Wealth Management LLC now owns 12,355 shares of the auto parts company's stock worth $312,000 after buying an additional 600 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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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