Gentex (NASDAQ:GNTX) Given New $28.00 Price Target at JPMorgan Chase & Co.

Gentex (NASDAQ:GNTX) had its price target raised by equities researchers at JPMorgan Chase & Co. from $27.00 to $28.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 19.03% from the company’s previous close.

A number of other research firms also recently weighed in on GNTX. Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Robert W. Baird lifted their price objective on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. B. Riley Financial reissued a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, April 27th. Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research note on Friday, March 27th. Finally, UBS Group set a $26.00 price objective on shares of Gentex in a research note on Sunday, April 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.83.

Gentex Stock Performance

Shares of NASDAQ GNTX traded up $0.62 during midday trading on Thursday, reaching $23.52. The company’s stock had a trading volume of 520,702 shares, compared to its average volume of 2,247,905. Gentex has a fifty-two week low of $20.48 and a fifty-two week high of $29.38. The business’s 50 day moving average price is $22.19 and its two-hundred day moving average price is $23.08. The company has a market cap of $5.01 billion, a P/E ratio of 13.22 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The company had revenue of $675.44 million during the quarter, compared to the consensus estimate of $649.42 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. Sell-side analysts forecast that Gentex will post 1.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Gentex

In related news, CEO Steven R. Downing sold 35,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total value of $866,250.00. Following the sale, the chief executive officer owned 211,670 shares of the company’s stock, valued at $5,238,832.50. The trade was a 14.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Neil Boehm sold 11,248 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the completion of the transaction, the chief technology officer owned 58,951 shares in the company, valued at approximately $1,463,163.82. The trade was a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 62,948 shares of company stock worth $1,554,550. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Gentex

Several institutional investors have recently made changes to their positions in the stock. Anchor Investment Management LLC acquired a new stake in shares of Gentex in the 1st quarter worth about $26,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Gentex in the 3rd quarter worth about $38,000. AdvisorNet Financial Inc boosted its holdings in shares of Gentex by 2,299.0% in the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after buying an additional 2,299 shares during the last quarter. Arax Advisory Partners bought a new position in Gentex during the fourth quarter valued at about $52,000. Finally, Employees Retirement System of Texas purchased a new stake in Gentex during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).