JPMorgan Chase & Co. Cuts Gentex (NASDAQ:GNTX) Price Target to $32.00

Gentex (NASDAQ:GNTX) had its target price decreased by JPMorgan Chase & Co. from $34.00 to $32.00 in a report issued on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the auto parts company’s stock.

Other equities research analysts also recently issued research reports about the stock. Bank of America reduced their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Guggenheim reduced their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, Robert W. Baird raised their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.06.

Gentex Stock Down 1.6 %

NASDAQ GNTX opened at $25.30 on Monday. Gentex has a 52-week low of $24.57 and a 52-week high of $37.58. The business’s 50-day moving average price is $28.71 and its 200 day moving average price is $29.63. The firm has a market cap of $5.75 billion, a P/E ratio of 14.38, a P/E/G ratio of 0.86 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period in the previous year, the business posted $0.50 EPS. As a group, analysts anticipate that Gentex will post 2.1 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.90%. Gentex’s payout ratio is 27.27%.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Midwest Capital Advisors LLC acquired a new position in shares of Gentex during the 4th quarter worth approximately $26,000. Synergy Asset Management LLC acquired a new position in shares of Gentex during the 4th quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after purchasing an additional 1,269 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Gentex during the 3rd quarter worth approximately $125,000. Finally, GAMMA Investing LLC raised its position in shares of Gentex by 159.1% during the 4th quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock worth $147,000 after purchasing an additional 3,152 shares during the last quarter. 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.