Robert W. Baird Increases Gentex (NASDAQ:GNTX) Price Target to $26.00

Key Points

• Robert W. Baird raised its price target on Gentex to $26.00 (from $25.00) while maintaining a "neutral" rating, implying roughly a 7.19% upside from the current stock price.
• Analyst coverage is mixed — one Strong Buy, one Buy and six Hold — producing a consensus "Hold" rating with an average target of $26.67.
• Gentex recently beat quarterly estimates with $0.48 EPS vs. $0.44 expected and revenue of $675.4M, up 17.1% year-over-year, signaling stronger-than-expected results.

Gentex (NASDAQ:GNTX - Get Free Report) had its price objective upped by equities researchers at Robert W. Baird from $25.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the auto parts company's stock. Robert W. Baird's price target suggests a potential upside of 7.19% from the stock's current price.

Several other equities research analysts have also issued reports on GNTX. B. Riley Financial reissued a "buy" rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research report on Monday. UBS Group set a $26.00 price objective on shares of Gentex in a research report on Sunday. JPMorgan Chase & Co. dropped their price objective on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday. Weiss Ratings reissued a "hold (c)" rating on shares of Gentex in a research report on Thursday, January 22nd. Finally, Freedom Capital raised shares of Gentex to a "strong-buy" rating in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $26.67.

Gentex Price Performance

GNTX stock traded up $0.38 on Monday, hitting $24.26. 2,307,649 shares of the company were exchanged, compared to its average volume of 2,252,711. Gentex has a twelve month low of $20.48 and a twelve month high of $29.38. The business's fifty day moving average is $22.34 and its two-hundred day moving average is $23.31. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 13.65 and a beta of 0.77.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. During the same quarter in the prior year, the business posted $0.42 earnings per share. Gentex's revenue for the quarter was up 17.1% compared to the same quarter last year. Equities research analysts expect that Gentex will post 1.92 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Steven R. Downing sold 35,000 shares of Gentex stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the sale, the chief executive officer owned 211,670 shares of the company's stock, valued at $5,238,832.50. The trade was a 14.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin C. Nash sold 11,885 shares of Gentex stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total transaction of $296,887.30. Following the sale, the chief financial officer directly owned 59,430 shares in the company, valued at $1,484,561.40. This trade represents a 16.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 58,133 shares of company stock valued at $1,442,313 in the last quarter. Company insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new stake in Gentex during the 3rd quarter worth $3,613,000. WINTON GROUP Ltd purchased a new stake in Gentex during the 3rd quarter worth $7,258,000. Nordea Investment Management AB purchased a new stake in Gentex during the 3rd quarter worth $6,422,000. Elo Mutual Pension Insurance Co purchased a new stake in Gentex during the 3rd quarter worth $726,000. Finally, Clark Capital Management Group Inc. purchased a new stake in Gentex during the 3rd quarter worth $8,179,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Company Profile

Gentex Corporation NASDAQ: GNTX is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company's primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world's leading original equipment manufacturers (OEMs).

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