Gentex (NASDAQ:GNTX) Cut to Hold at Baird R W

Gentex (NASDAQ:GNTX) was downgraded by investment analysts at Baird R W from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on GNTX. B. Riley reaffirmed a “buy” rating and set a $32.50 target price (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. UBS Group reduced their price objective on Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Guggenheim set a $30.00 target price on shares of Gentex in a research note on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.06.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $21.07 on Tuesday. Gentex has a 1 year low of $20.28 and a 1 year high of $35.33. The stock’s 50-day moving average is $23.65 and its 200 day moving average is $27.25. The company has a market cap of $4.77 billion, a PE ratio of 11.97, a P/E/G ratio of 0.84 and a beta of 0.84.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates 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 in the prior year, the company posted $0.50 EPS. Analysts expect that Gentex will post 2.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Midwest Capital Advisors LLC purchased a new stake in shares of Gentex in the fourth quarter valued at approximately $26,000. TD Private Client Wealth LLC raised its position in Gentex by 138.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock valued at $33,000 after purchasing an additional 662 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Gentex in the 4th quarter worth $34,000. Harbor Investment Advisory LLC grew its position in shares of Gentex by 208.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock worth $38,000 after buying an additional 1,093 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Gentex by 103.3% during the first quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company’s stock valued at $49,000 after buying an additional 1,079 shares during the period. 86.76% of the stock is currently owned by institutional investors.

About Gentex

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.