Robert W. Baird Increases Gentex (NASDAQ:GNTX) Price Target to $37.00

Gentex (NASDAQ:GNTX) had its price objective lifted by stock analysts at Robert W. Baird from $35.00 to $37.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the auto parts company’s stock. Robert W. Baird’s target price points to a potential upside of 18.06% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Bank of America lowered their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research note on Tuesday, July 30th. JPMorgan Chase & Co. reduced their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. The Goldman Sachs Group decreased their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Finally, UBS Group began coverage on shares of Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price for the company. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.00.

Gentex Stock Performance

Gentex stock opened at $31.34 on Monday. The stock has a market cap of $7.25 billion, a P/E ratio of 16.58, a PEG ratio of 0.91 and a beta of 0.92. The firm’s fifty day moving average price is $29.98 and its 200-day moving average price is $32.13. Gentex has a fifty-two week low of $27.86 and a fifty-two week high of $37.58.

Insiders Place Their Bets

In related news, major shareholder Corp Gentex acquired 3,152,500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the acquisition, the insider now directly owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Gentex

Several hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in Gentex by 74.6% in the third quarter. Van ECK Associates Corp now owns 309,668 shares of the auto parts company’s stock valued at $9,141,000 after acquiring an additional 132,322 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Gentex by 104.9% in the third quarter. Harbor Capital Advisors Inc. now owns 81,506 shares of the auto parts company’s stock worth $2,420,000 after purchasing an additional 41,732 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Gentex by 4.7% in the third quarter. Janney Montgomery Scott LLC now owns 1,330,830 shares of the auto parts company’s stock worth $39,512,000 after purchasing an additional 59,784 shares in the last quarter. Invesco LLC raised its position in shares of Gentex by 2.2% during the 3rd quarter. Invesco LLC now owns 31,622 shares of the auto parts company’s stock valued at $939,000 after purchasing an additional 679 shares during the period. Finally, Lincluden Management Ltd. lifted its stake in shares of Gentex by 41.7% during the 3rd quarter. Lincluden Management Ltd. now owns 139,671 shares of the auto parts company’s stock valued at $4,147,000 after buying an additional 41,095 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

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.