Gentex (NASDAQ:GNTX) Stock Price Target Cut by JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Gentex’s price target from $27 to $26 while maintaining a “neutral” rating, implying 26.14% potential upside from the prior close.
• Analyst sentiment is mixed but trends toward caution: Gentex has an average “Hold” rating and a consensus price target of $23.20, with Goldman Sachs downgrading the stock to “Sell.”
• 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 closed at $20.61.

Gentex (NASDAQ:GNTX - Get Free Report) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $27.00 to $26.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the auto parts company's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 26.14% from the company's previous close.

A number of other brokerages have also recently commented on GNTX. B. Riley Financial lowered their price target on Gentex from $29.00 to $25.00 and set a "buy" rating for the company in a research report on Monday. Wall Street Zen lowered Gentex from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Freedom Capital lowered Gentex from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. UBS Group restated a "neutral" rating on shares of Gentex in a research note on Monday. Finally, The Goldman Sachs Group lowered shares of Gentex from a "neutral" rating to a "sell" rating and cut their price objective for the stock from $23.00 to $20.00 in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $23.20.

Gentex Stock Down 0.2%

Shares of Gentex stock traded down $0.05 on Monday, reaching $20.61. The stock had a trading volume of 836,284 shares, compared to its average volume of 2,408,341. The stock has a market capitalization of $4.39 billion, a P/E ratio of 11.09 and a beta of 0.86. The company has a 50 day moving average price of $22.26 and a 200 day moving average price of $23.30. Gentex has a 1 year low of $19.98 and a 1 year high of $26.48.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its 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). Gentex had a net margin of 15.15% and a return on equity of 16.67%. The firm had revenue of $647.71 million for the quarter, compared to analysts' expectations of $669.69 million. During the same period in the previous year, the company earned $0.46 EPS. The company's revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Gentex will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Gentex

Several institutional investors have recently modified their holdings of the stock. XXEC Inc. purchased a new position in Gentex in the 2nd quarter valued at about $7,705,220,000. BlackRock Inc. acquired a new stake in Gentex in the 2nd quarter worth about $550,287,000. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 833,919 shares in the last quarter. Caisse de depot et placement du Quebec purchased a new stake in Gentex during the 2nd quarter worth approximately $79,924,000. Finally, Arrowstreet Capital Limited Partnership lifted 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 valued at $65,442,000 after acquiring an additional 534,905 shares in the last quarter. 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.

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