Gentex Co. (GNTX) PT Lowered to $21.00 at Robert W. Baird
Gentex Co. (NASDAQ:GNTX) had its target price decreased by research analysts at Robert W. Baird from $22.00 to $21.00 in a report issued on Monday. The firm presently has an “outperform” rating on the auto parts company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 8.36% from the stock’s previous close.
GNTX has been the subject of several other reports. FBR & Co reaffirmed a “buy” rating and issued a $25.00 price target on shares of Gentex in a report on Wednesday, October 18th. Zacks Investment Research raised shares of Gentex from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 17th. KeyCorp reaffirmed a “buy” rating and issued a $25.00 price target on shares of Gentex in a report on Sunday, October 15th. ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub raised shares of Gentex from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Gentex currently has an average rating of “Hold” and a consensus price target of $22.06.
Gentex (NASDAQ GNTX) traded down 1.91% during trading on Monday, reaching $19.01. 1,885,512 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $19.57 and a 200 day moving average price of $18.97. The stock has a market capitalization of $5.43 billion, a P/E ratio of 15.09 and a beta of 1.18. Gentex has a 1-year low of $16.06 and a 1-year high of $22.12.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 20th. The auto parts company reported $0.31 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $438.63 million during the quarter, compared to analyst estimates of $452.42 million. Gentex had a net margin of 20.57% and a return on equity of 17.96%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. Equities research analysts expect that Gentex will post $1.28 earnings per share for the current year.
Gentex declared that its board has initiated a share repurchase plan on Wednesday, August 23rd that permits the company to buyback 15,000,000 shares. This buyback authorization permits the auto parts company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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In other Gentex news, insider Kevin C. Nash sold 4,320 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total transaction of $85,104.00. Following the completion of the transaction, the insider now directly owns 30,732 shares of the company’s stock, valued at approximately $605,420.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven R. Downing sold 8,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total transaction of $157,600.00. Following the transaction, the chief financial officer now directly owns 47,362 shares of the company’s stock, valued at $933,031.40. The disclosure for this sale can be found here. Insiders have sold a total of 251,720 shares of company stock valued at $4,391,506 over the last three months. 2.50% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in Gentex by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 368 shares during the period. LVM Capital Management Ltd. MI acquired a new position in Gentex during the 2nd quarter valued at about $194,000. Sheaff Brock Investment Advisors LLC acquired a new position in Gentex during the 2nd quarter valued at about $194,000. Verition Fund Management LLC acquired a new position in Gentex during the 2nd quarter valued at about $195,000. Finally, HL Financial Services LLC acquired a new position in Gentex during the 2nd quarter valued at about $202,000. 80.78% of the stock is owned by hedge funds and other institutional investors.
Gentex Company Profile
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.
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