JPMorgan Chase & Co. Cuts Gentex (NASDAQ:GNTX) Price Target to $35.00

Gentex (NASDAQ:GNTX) had its price target trimmed by JPMorgan Chase & Co. from $36.00 to $35.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a neutral rating on the auto parts company’s stock.

Several other research firms also recently commented on GNTX. StockNews.com downgraded Gentex from a buy rating to a hold rating in a research note on Thursday, July 4th. Guggenheim upped their price objective on Gentex from $40.00 to $41.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Finally, Robert W. Baird dropped their price objective on Gentex from $41.00 to $40.00 and set an outperform rating on the stock in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $39.00.

Gentex Stock Up 0.2 %

GNTX stock opened at $32.56 on Monday. The firm has a market cap of $7.53 billion, a PE ratio of 17.23, a P/E/G ratio of 0.96 and a beta of 0.93. The business has a 50 day moving average of $34.04 and a 200-day moving average of $34.52. Gentex has a 12-month low of $27.86 and a 12-month high of $37.58.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a net margin of 18.77% and a return on equity of 19.19%. The firm had revenue of $590.23 million during the quarter, compared to analysts’ expectations of $600.38 million. During the same quarter in the previous year, the company posted $0.42 EPS. Gentex’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts expect that Gentex will post 2.09 earnings per share for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Shareholders of record on Friday, July 5th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.48 annualized dividend and a dividend yield of 1.47%. Gentex’s dividend payout ratio is currently 25.40%.

Insider Buying and Selling

In related news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $34.46, for a total value of $162,513.36. Following the sale, the director now owns 3,764 shares in the company, valued at $129,707.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GNTX. Neo Ivy Capital Management bought a new position in Gentex in the fourth quarter valued at $29,000. National Bank of Canada FI grew its stake in shares of Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after buying an additional 571 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Gentex during the second quarter valued at about $34,000. GAMMA Investing LLC bought a new position in shares of Gentex during the fourth quarter valued at about $46,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Gentex during the second quarter valued at about $73,000. Institutional investors own 86.76% of the company’s stock.

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.