Gentex (NASDAQ:GNTX) Given New $22.50 Price Target at BNP Paribas Exane

Gentex (NASDAQ:GNTX) had its price objective cut by investment analysts at BNP Paribas Exane from $23.00 to $22.50 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the auto parts company’s stock. BNP Paribas Exane‘s price target suggests a potential upside of 9.09% from the company’s previous close.

A number of other research analysts have also recently weighed in on the company. UBS Group reiterated a “neutral” rating on shares of Gentex in a report on Monday. JPMorgan Chase & Co. cut their price objective on Gentex from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday. Freedom Capital lowered Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Robert W. Baird decreased their target price on Gentex from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Monday. Finally, Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $23.08.

Gentex Price Performance

Gentex stock traded down $0.04 during mid-day trading on Monday, hitting $20.62. 1,179,145 shares of the company were exchanged, compared to its average volume of 2,410,496. Gentex has a 12-month low of $19.98 and a 12-month high of $26.48. The business’s 50 day simple moving average is $22.26 and its two-hundred day simple moving average is $23.30. The company has a market capitalization of $4.39 billion, a P/E ratio of 11.08 and a beta of 0.86.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, October 23rd. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $647.71 million during the quarter, compared to analysts’ expectations of $669.69 million. Gentex had a net margin of 15.15% and a return on equity of 16.67%. Gentex’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.46 earnings per share. Equities research analysts predict that Gentex will post 2.06 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GNTX. XXEC Inc. acquired a new position in shares of Gentex in the 2nd quarter valued at about $7,705,220,000. BlackRock Inc. acquired a new stake in Gentex during the second quarter worth about $550,287,000. Dimensional Fund Advisors LP lifted its holdings in Gentex by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock worth $163,067,000 after acquiring an additional 833,919 shares during the last quarter. Caisse de depot et placement du Quebec bought a new position in Gentex in the second quarter worth about $79,924,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Gentex by 21.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,995,044 shares of the auto parts company’s stock worth $65,442,000 after purchasing an additional 534,905 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Key Stories Impacting Gentex

Here are the key news stories impacting Gentex this week:

• Positive Sentiment: B. Riley maintained a Buy rating and sees potential upside to $25, although it reduced its price target from $29. The firm’s constructive view provides some support for GNTX, particularly if new automotive technology programs drive future growth. Benzinga analyst coverage

About Gentex

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.