Robert W. Baird Forecasts Strong Price Appreciation for Gentex (NASDAQ:GNTX) Stock

Gentex (NASDAQ:GNTX - Get Free Report) had its target price upped by analysts at Robert W. Baird from $25.00 to $26.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the auto parts company's stock. Robert W. Baird's price target would indicate a potential upside of 11.68% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. UBS Group decreased their target price on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Guggenheim cut their price objective on shares of Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group cut their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.44.

Gentex Stock Performance

GNTX opened at $23.28 on Friday. The stock has a market capitalization of $5.23 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.14 and a beta of 0.81. The company's 50-day simple moving average is $22.10 and its two-hundred day simple moving average is $23.89. Gentex has a 52-week low of $20.28 and a 52-week high of $35.32.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. Gentex had a net margin of 17.01% and a return on equity of 16.11%. The business had revenue of $576.77 million for the quarter, compared to analysts' expectations of $578.68 million. During the same quarter in the prior year, the business earned $0.47 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts forecast that Gentex will post 2.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of Gentex stock in a transaction on Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the transaction, the director directly owned 5,939 shares of the company's stock, valued at $135,824.93. The trade was a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in Gentex during the second quarter worth $3,753,000. Taylor Hoffman Capital Management LLC lifted its position in shares of Gentex by 9.6% during the second quarter. Taylor Hoffman Capital Management LLC now owns 173,926 shares of the auto parts company's stock worth $3,825,000 after purchasing an additional 15,249 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Gentex by 127.8% during the second quarter. Parallel Advisors LLC now owns 20,065 shares of the auto parts company's stock worth $441,000 after purchasing an additional 11,258 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Gentex by 17.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,744 shares of the auto parts company's stock worth $126,000 after purchasing an additional 836 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV lifted its position in shares of Gentex by 4.3% during the second quarter. Rowlandmiller & PARTNERS.ADV now owns 36,338 shares of the auto parts company's stock worth $799,000 after purchasing an additional 1,501 shares during the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

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.

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