Gentex (NASDAQ:GNTX) PT Raised to $41.00 at Guggenheim

Gentex (NASDAQ:GNTX) had its price objective lifted by stock analysts at Guggenheim from $40.00 to $41.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the auto parts company’s stock. Guggenheim’s price target suggests a potential upside of 22.10% from the company’s current price.

Several other brokerages have also recently issued reports on GNTX. StockNews.com raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group lifted their target price on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. JPMorgan Chase & Co. lifted their target price on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, B. Riley lifted their target price on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.83.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $33.58 on Wednesday. Gentex has a 1 year low of $25.85 and a 1 year high of $37.58. The stock has a market cap of $7.77 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 0.71 and a beta of 0.99. The firm has a 50-day moving average of $35.73 and a 200 day moving average of $32.97.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. Gentex had a net margin of 18.63% and a return on equity of 19.25%. The company had revenue of $589.13 million during the quarter, compared to analysts’ expectations of $563.42 million. During the same period last year, the company posted $0.37 EPS. Gentex’s revenue was up 19.3% on a year-over-year basis. Research analysts expect that Gentex will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Gentex

In other news, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total transaction of $204,326.46. Following the sale, the director now owns 62,555 shares of the company’s stock, valued at $2,122,491.15. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Institutional Trading of Gentex

Large investors have recently added to or reduced their stakes in the business. Belpointe Asset Management LLC grew its position in Gentex by 414.3% during the first quarter. Belpointe Asset Management LLC now owns 900 shares of the auto parts company’s stock valued at $25,000 after buying an additional 725 shares during the period. Point72 Europe London LLP bought a new position in shares of Gentex in the fourth quarter worth approximately $25,000. Neo Ivy Capital Management bought a new position in shares of Gentex in the fourth quarter worth approximately $29,000. National Bank of Canada FI boosted its position in shares of Gentex by 159.1% in the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 571 shares during the period. Finally, VisionPoint Advisory Group LLC boosted its position in shares of Gentex by 123.6% in the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 665 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Gentex Company Profile

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.