Gentex (NASDAQ:GNTX) Stock Price Target Lowered at Robert W. Baird

Key Points

• Robert W. Baird lowered Gentex’s price target from $25 to $24 while maintaining a “neutral” rating, implying approximately 16% upside from the prior close.
• Analyst sentiment remains cautious: Gentex has a consensus “Hold” rating from seven analysts and an average price target of $24.80, with recent downgrades from Goldman Sachs, UBS, and others.
• Gentex missed quarterly expectations, reporting $0.47 EPS versus the $0.50 consensus and revenue of $647.7 million versus $669.7 million estimates; revenue declined 1.1% year over year.

Gentex (NASDAQ:GNTX - Get Free Report) had its price target lowered by stock analysts at Robert W. Baird from $25.00 to $24.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the auto parts company's stock. Robert W. Baird's target price points to a potential upside of 16.17% from the stock's previous close.

Several other brokerages have also issued reports on GNTX. The Goldman Sachs Group lowered shares of Gentex from a "neutral" rating to a "sell" rating and lowered their price target for the company from $23.00 to $20.00 in a research note on Tuesday, October 6th. Weiss Ratings cut Gentex from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. Freedom Capital downgraded Gentex from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th. UBS Group dropped their target price on Gentex from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. dropped their target price on Gentex from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $24.80.

Gentex Price Performance

NASDAQ:GNTX opened at $20.66 on Monday. The company has a market cap of $4.40 billion, a P/E ratio of 11.11 and a beta of 0.86. Gentex has a twelve month low of $19.98 and a twelve month high of $26.48. The business has a 50 day moving average price of $22.26 and a two-hundred day moving average price of $23.30.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data 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). Gentex had a net margin of 15.15% and a return on equity of 16.67%. The business had revenue of $647.71 million during the quarter, compared to analyst estimates of $669.69 million. During the same quarter last year, the business earned $0.46 earnings per share. Gentex's revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts anticipate that Gentex will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of Gentex

A number of large investors have recently added to or reduced their stakes in GNTX. Bank of America Corp DE acquired a new stake in Gentex in the 2nd quarter valued at about $29,155,000. MAC Alpha Capital Management LP increased its position in Gentex by 36.0% during the second quarter. MAC Alpha Capital Management LP now owns 416,657 shares of the auto parts company's stock worth $10,530,000 after buying an additional 110,300 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in Gentex by 25,026.7% during the first quarter. Hillsdale Investment Management Inc. now owns 188,450 shares of the auto parts company's stock worth $4,118,000 after buying an additional 187,700 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Gentex in the second quarter valued at approximately $1,533,000. Finally, BlackRock Inc. bought a new stake in Gentex in the second quarter valued at approximately $550,287,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.