Gentex (NASDAQ:GNTX) Price Target Cut to $32.00 by Analysts at JPMorgan Chase & Co.

Gentex (NASDAQ:GNTX) had its price objective decreased by analysts at JPMorgan Chase & Co. from $34.00 to $32.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the auto parts company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 23.46% from the company’s previous close.

Other analysts also recently issued reports about the company. Bank of America lowered their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Guggenheim lowered their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, Robert W. Baird raised their target price on Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus price target of $34.75.

Gentex Trading Down 8.2 %

Shares of NASDAQ GNTX opened at $25.92 on Monday. Gentex has a 12-month low of $25.10 and a 12-month high of $37.58. The company has a market cap of $5.89 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.86 and a beta of 0.91. The stock has a fifty day moving average price of $28.94 and a 200 day moving average price of $29.75.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same period last year, the company earned $0.50 earnings per share. On average, sell-side analysts forecast that Gentex will post 2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Gentex

Several hedge funds and other institutional investors have recently made changes to their positions in GNTX. JPMorgan Chase & Co. boosted its position in shares of Gentex by 179.7% during the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after buying an additional 1,285,519 shares during the period. Bridgewater Associates LP lifted its position in Gentex by 249.1% in the third quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock worth $18,338,000 after purchasing an additional 440,725 shares during the period. Cidel Asset Management Inc. acquired a new stake in Gentex in the fourth quarter worth approximately $11,815,000. Citigroup Inc. lifted its position in Gentex by 327.8% in the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock worth $14,365,000 after purchasing an additional 370,746 shares during the period. Finally, Lightrock Netherlands B.V. acquired a new stake in Gentex in the fourth quarter worth approximately $9,443,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.