Gentex (NASDAQ:GNTX) Given New $34.00 Price Target at Guggenheim

Gentex (NASDAQ:GNTX) had its price objective cut by Guggenheim from $35.00 to $34.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the auto parts company’s stock. Guggenheim’s price objective would indicate a potential upside of 15.02% from the company’s previous close.

A number of other equities analysts have also commented on GNTX. BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research report on Tuesday, July 30th. Robert W. Baird lifted their price target on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. UBS Group began coverage on Gentex in a report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. B. Riley cut their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. Finally, The Goldman Sachs Group dropped their price objective on Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Six 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.com, the company presently has a consensus rating of “Hold” and an average price target of $35.13.

Gentex Trading Up 0.2 %

Shares of GNTX traded up $0.06 during midday trading on Thursday, hitting $29.56. The stock had a trading volume of 271,358 shares, compared to its average volume of 1,455,234. The business has a 50-day simple moving average of $29.87 and a two-hundred day simple moving average of $31.70. The firm has a market cap of $6.72 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 0.94 and a beta of 0.91. Gentex has a fifty-two week low of $28.30 and a fifty-two week high of $37.58.

Insider Buying and Selling

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now owns 6,463,808 shares of the company’s stock, valued at approximately $32,319,040. This trade represents a 95.20 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Quest Partners LLC purchased a new stake in shares of Gentex during the 2nd quarter valued at about $31,000. Gladius Capital Management LP bought a new stake in Gentex in the second quarter worth $34,000. EverSource Wealth Advisors LLC increased its position in Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Gentex by 227.8% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after buying an additional 1,269 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new position in Gentex during the second quarter worth $67,000. 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.