Gentex (NASDAQ:GNTX) Given New $24.00 Price Target at Guggenheim

Gentex (NASDAQ:GNTX - Get Free Report) had its target price reduced by equities researchers at Guggenheim from $30.00 to $24.00 in a note issued to investors on Tuesday, Marketbeat.com reports. The firm presently has a "buy" rating on the auto parts company's stock. Guggenheim's target price would indicate a potential upside of 12.36% from the company's current price.

Several other equities research analysts have also issued reports on GNTX. Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group dropped their target price on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Robert W. Baird reissued a "neutral" rating and issued a $25.00 price target (down previously from $31.00) on shares of Gentex in a report on Tuesday, April 15th. Finally, UBS Group dropped their price objective on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Gentex presently has an average rating of "Hold" and an average price target of $28.31.

Gentex Stock Down 2.8 %

GNTX traded down $0.61 during trading on Tuesday, reaching $21.36. 3,379,495 shares of the company were exchanged, compared to its average volume of 1,718,100. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 0.84 and a beta of 0.84. Gentex has a 12-month low of $20.28 and a 12-month high of $35.33. The company's 50-day moving average is $23.23 and its two-hundred day moving average is $26.87.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, meeting analysts' consensus estimates of $0.43. The company had revenue of $576.77 million during the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same period last year, the business earned $0.47 earnings per share. Equities analysts forecast that Gentex will post 2.04 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. 180 Wealth Advisors LLC increased its stake in Gentex by 0.7% in the 4th quarter. 180 Wealth Advisors LLC now owns 65,805 shares of the auto parts company's stock worth $1,891,000 after purchasing an additional 437 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Gentex by 6.5% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock worth $214,000 after buying an additional 457 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Gentex by 32.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock worth $70,000 after buying an additional 593 shares during the period. ProShare Advisors LLC raised its holdings in Gentex by 6.0% during the 4th quarter. ProShare Advisors LLC now owns 10,641 shares of the auto parts company's stock valued at $306,000 after buying an additional 605 shares during the last quarter. Finally, Scotia Capital Inc. boosted its position in Gentex by 0.5% during the 4th quarter. Scotia Capital Inc. now owns 126,325 shares of the auto parts company's stock valued at $3,629,000 after buying an additional 608 shares during the period. Hedge funds and other institutional investors own 86.76% of the company's stock.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.