Guggenheim Increases Gentex (NASDAQ:GNTX) Price Target to $41.00

Gentex (NASDAQ:GNTX) had its target price raised by Guggenheim from $40.00 to $41.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the auto parts company’s stock. Guggenheim’s price target would suggest a potential upside of 22.10% from the company’s current price.

Other research analysts have also issued reports about the company. B. Riley increased their price objective on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group increased their price objective on Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. StockNews.com upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Gentex presently has an average rating of “Moderate Buy” and a consensus target price of $37.83.

Gentex Stock Performance

NASDAQ:GNTX opened at $33.58 on Wednesday. Gentex has a one year low of $25.85 and a one year high of $37.58. The stock has a market cap of $7.77 billion, a PE ratio of 18.25, a P/E/G ratio of 0.71 and a beta of 0.99. The stock has a 50 day moving average price of $35.73 and a 200 day moving average price of $32.97.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. Gentex had a return on equity of 19.25% and a net margin of 18.63%. The firm had revenue of $589.13 million during the quarter, compared to analysts’ expectations of $563.42 million. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, analysts predict 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 the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Kevin C. Nash sold 13,500 shares of Gentex stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard O. Schaum sold 6,022 shares of Gentex stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the transaction, 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Merit Financial Group LLC purchased a new position in Gentex in the third quarter valued at $618,000. IFG Advisory LLC boosted its holdings in Gentex by 85.1% in the fourth quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock valued at $4,220,000 after purchasing an additional 59,407 shares during the period. New York Life Investment Management LLC raised its stake in Gentex by 112.3% in the third quarter. New York Life Investment Management LLC now owns 24,876 shares of the auto parts company’s stock valued at $809,000 after buying an additional 13,161 shares in the last quarter. Jump Financial LLC raised its stake in Gentex by 130.7% in the third quarter. Jump Financial LLC now owns 123,805 shares of the auto parts company’s stock valued at $4,029,000 after buying an additional 70,138 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its stake in Gentex by 1.9% in the third quarter. Epoch Investment Partners Inc. now owns 1,951,077 shares of the auto parts company’s stock valued at $63,488,000 after buying an additional 36,461 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other 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.