Gentex (NASDAQ:GNTX) Given New $24.00 Price Target at UBS Group

Gentex (NASDAQ:GNTX) had its target price decreased by stock analysts at UBS Group from $25.00 to $24.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. UBS Group’s price objective would indicate a potential upside of 13.85% from the stock’s current price.

GNTX has been the subject of several other reports. Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. The Goldman Sachs Group lowered Gentex from a “neutral” rating to a “sell” rating and dropped their price target for the company from $23.00 to $20.00 in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research note on Friday, September 18th. JPMorgan Chase & Co. decreased their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Finally, Freedom Capital lowered shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.20.

Gentex Stock Down 2.2%

GNTX traded down $0.47 during midday trading on Wednesday, reaching $21.08. The company had a trading volume of 3,115,297 shares, compared to its average volume of 2,357,233. The business has a 50-day moving average of $22.97 and a two-hundred day moving average of $23.34. Gentex has a 1 year low of $20.48 and a 1 year high of $26.99. The company has a market cap of $4.49 billion, a P/E ratio of 11.15 and a beta of 0.86.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The company had revenue of $651.30 million for the quarter, compared to analysts’ expectations of $669.65 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. Gentex’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts predict that Gentex will post 2.07 EPS for the current year.

Institutional Investors Weigh In On Gentex

Institutional investors have recently bought and sold shares of the stock. XXEC Inc. purchased a new stake in shares of Gentex during the 2nd quarter worth about $7,705,220,000. BlackRock Inc. bought a new position in shares of Gentex during the second quarter worth about $550,287,000. Dimensional Fund Advisors LP grew its position in shares of Gentex by 12.6% in the 1st 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 in the last quarter. Caisse de depot et placement du Quebec acquired a new position in Gentex in the second quarter worth $79,924,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Gentex by 21.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,995,044 shares of the auto parts company’s stock valued at $65,442,000 after buying an additional 534,905 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

About Gentex

Gentex Corporation develops, manufactures and supplies technology products for the automotive, aerospace and fire-protection industries. The company is best known for its automatic-dimming rearview mirrors, which use electrochromic technology to reduce glare, as well as related interior and exterior vehicle electronics.

Gentex’s automotive portfolio also includes camera-based driver-assistance systems, connected-car technologies, vehicle lighting and sensing products, biometric and occupant-monitoring systems, and integrated electronic features designed to improve vehicle safety, comfort and convenience.