JPMorgan Chase & Co. Raises Gentex (NASDAQ:GNTX) Price Target to $28.00

Gentex (NASDAQ:GNTX) had its price objective hoisted by JPMorgan Chase & Co. from $27.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 22.43% from the company’s current price.

A number of other research analysts also recently commented on GNTX. Robert W. Baird increased their price target on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Sunday, March 8th. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a report on Friday, March 27th. B. Riley Financial reaffirmed a “buy” rating and issued a $29.00 price target (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Finally, UBS Group set a $26.00 price target on shares of Gentex in a report on Sunday, April 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.83.

Gentex Stock Down 2.3%

Shares of Gentex stock opened at $22.87 on Thursday. Gentex has a twelve month low of $20.48 and a twelve month high of $29.38. The business has a 50-day moving average price of $22.19 and a 200-day moving average price of $23.08. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 12.85 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $649.42 million. During the same quarter last year, the firm earned $0.42 EPS. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities analysts expect that Gentex will post 1.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gentex news, CFO Kevin C. Nash sold 11,885 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the sale, the chief financial officer owned 59,430 shares of the company’s stock, valued at $1,484,561.40. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the sale, the director directly owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. The trade was a 19.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 74,826 shares of company stock valued at $1,827,507 over the last quarter. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Gentex

A number of institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Gentex by 10.3% during the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock worth $419,636,000 after acquiring an additional 1,383,203 shares during the period. Bank of Montreal Can increased its position in shares of Gentex by 14,398.7% during the fourth quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock worth $179,785,000 after acquiring an additional 7,672,769 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Gentex by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock worth $163,067,000 after acquiring an additional 833,919 shares during the period. State Street Corp increased its position in shares of Gentex by 1.0% during the second quarter. State Street Corp now owns 7,439,333 shares of the auto parts company’s stock worth $163,591,000 after acquiring an additional 74,779 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Gentex by 2.0% during the third quarter. American Century Companies Inc. now owns 6,742,293 shares of the auto parts company’s stock worth $190,807,000 after acquiring an additional 131,035 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

About Gentex

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).