Gentex Corporation (NASDAQ:GNTX) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Thursday. The firm currently has a $22.00 target price on the auto parts company’s stock. Robert W. Baird’s target price would suggest a potential upside of 26.73% from the stock’s current price.

GNTX has been the subject of several other reports. Wellington Shields cut shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research note on Thursday, May 4th. Zacks Investment Research cut shares of Gentex Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 26th. BidaskClub cut shares of Gentex Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. FBR & Co reiterated an “outperform” rating and issued a $25.00 target price on shares of Gentex Corporation in a research note on Monday, July 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $22.00 target price (down from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.79.

Gentex Corporation (NASDAQ GNTX) opened at 17.36 on Thursday. The company has a 50-day moving average of $17.70 and a 200-day moving average of $19.47. Gentex Corporation has a 1-year low of $16.06 and a 1-year high of $22.12. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of 13.78 and a beta of 1.18.

Gentex Corporation (NASDAQ:GNTX) last posted its earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.01. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The firm had revenue of $443.10 million during the quarter, compared to analyst estimates of $446.36 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Analysts anticipate that Gentex Corporation will post $1.27 earnings per share for the current fiscal year.

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In other Gentex Corporation news, Director John A. Mulder sold 10,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $19.22, for a total transaction of $192,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Fred Bauer sold 239,400 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the transaction, the chairman now owns 5,771,128 shares of the company’s stock, valued at $100,013,648.24. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in Gentex Corporation by 17.8% in the first quarter. Russell Investments Group Ltd. now owns 89,479 shares of the auto parts company’s stock worth $1,910,000 after buying an additional 13,542 shares in the last quarter. Creative Planning boosted its position in Gentex Corporation by 3.5% in the first quarter. Creative Planning now owns 15,954 shares of the auto parts company’s stock worth $340,000 after buying an additional 538 shares in the last quarter. Teachers Advisors LLC boosted its position in Gentex Corporation by 17.8% in the fourth quarter. Teachers Advisors LLC now owns 392,756 shares of the auto parts company’s stock worth $7,733,000 after buying an additional 59,358 shares in the last quarter. Cardinal Capital Management boosted its position in Gentex Corporation by 17.9% in the second quarter. Cardinal Capital Management now owns 26,209 shares of the auto parts company’s stock worth $497,000 after buying an additional 3,975 shares in the last quarter. Finally, United Services Automobile Association boosted its position in Gentex Corporation by 43.0% in the first quarter. United Services Automobile Association now owns 38,120 shares of the auto parts company’s stock worth $813,000 after buying an additional 11,460 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

About Gentex Corporation

Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.

Analyst Recommendations for Gentex Corporation (NASDAQ:GNTX)

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