Gentex Corp. Downgraded by Guggenheim to Neutral (GNTX)
Gentex Corp. (NASDAQ:GNTX) was downgraded by research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a report released on Thursday, Analyst Ratings Net reports. They currently have a $34.00 price objective on the stock, up from their previous price objective of $27.00. Guggenheim’s target price indicates a potential upside of 11.59% from the stock’s previous close.
Gentex Corp. (NASDAQ:GNTX) opened at 30.47 on Thursday. Gentex Corp. has a 52 week low of $15.25 and a 52 week high of $25.40. The stock’s 50-day moving average is $23.19 and its 200-day moving average is $22.35. The company has a market cap of $4.396 billion and a P/E ratio of 24.38.
Gentex Corp. (NASDAQ:GNTX) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.06. The company had revenue of $288.60 million for the quarter, compared to the consensus estimate of $277.24 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts expect that Gentex Corp. will post $1.35 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on GNTX. Analysts at Jefferies Group raised their price target on shares of Gentex Corp. from $21.00 to $27.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Zacks upgraded shares of Gentex Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday. They now have a $31.20 price target on the stock. Finally, analysts at Craig Hallum upgraded shares of Gentex Corp. from a “hold” rating to a “buy” rating in a research note to investors on Wednesday. They now have a $36.00 price target on the stock, up previously from $20.00. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Gentex Corp. has an average rating of “Hold” and a consensus target price of $30.03.
Gentex Corporation is a supplier of automatic-dimming (NASDAQ:GNTX) rear-view mirrors and camera-based lighting-assist features to the global automotive industry.
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