JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Gentex (NASDAQ:GNTX) Stock

Key Points

• JPMorgan Chase & Co. has raised its target price for Gentex (NASDAQ:GNTX) stock from $30.00 to $32.00, indicating a potential upside of 21.03% from its previous close, while maintaining a "neutral" rating.
• Gentex recently reported better-than-expected quarterly earnings with an EPS of $0.47 and revenue of $657.86 million, marking a 14.8% increase year-over-year.
• The company's board has authorized a share repurchase plan allowing for the buyback of 40 million shares, signaling a belief that the stock is undervalued.

Gentex (NASDAQ:GNTX - Get Free Report) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $30.00 to $32.00 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 price objective suggests a potential upside of 21.03% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. Zacks Research cut shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. Robert W. Baird increased their price target on Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Industrial Alliance Securities set a $25.00 price objective on Gentex in a research note on Friday, July 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gentex in a research note on Wednesday, October 8th. Finally, UBS Group reissued a "neutral" rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $29.14.

Gentex Price Performance

GNTX stock traded up $0.43 during midday trading on Monday, reaching $26.44. 10,698,333 shares of the stock were exchanged, compared to its average volume of 2,298,213. Gentex has a 52 week low of $20.28 and a 52 week high of $31.48. The company has a fifty day moving average price of $27.72 and a 200 day moving average price of $24.41. The stock has a market capitalization of $5.80 billion, a PE ratio of 14.94 and a beta of 0.84.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.08. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The firm had revenue of $657.86 million for the quarter, compared to analyst estimates of $591.94 million. During the same period last year, the firm posted $0.37 earnings per share. The business's revenue for the quarter was up 14.8% on a year-over-year basis. Gentex has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Gentex will post 2.04 earnings per share for the current fiscal year.

Gentex announced that its board has initiated a share repurchase plan on Wednesday, July 16th that authorizes the company to buyback 40,000,000 outstanding shares. This buyback authorization authorizes the auto parts company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Gentex

Several hedge funds have recently bought and sold shares of GNTX. Ascent Group LLC bought a new stake in Gentex during the 3rd quarter worth approximately $211,000. Norris Perne & French LLP MI raised its position in shares of Gentex by 138.7% in the third quarter. Norris Perne & French LLP MI now owns 51,599 shares of the auto parts company's stock worth $1,460,000 after buying an additional 29,981 shares in the last quarter. Ethic Inc. purchased a new position in Gentex during the third quarter worth about $310,000. Deprince Race & Zollo Inc. bought a new position in Gentex in the 3rd quarter worth about $26,283,000. Finally, 180 Wealth Advisors LLC raised its holdings in shares of Gentex by 4.4% in the 3rd quarter. 180 Wealth Advisors LLC now owns 76,407 shares of the auto parts company's stock valued at $2,162,000 after acquiring an additional 3,251 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Company Profile

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.

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