B.Riley FBR Reiterates a Buy Rating on Gentex (GNTX)


B.Riley FBR analyst Christopher Van Horn reiterated a Buy rating on Gentex (NASDAQ: GNTX) today and set a price target of $29. The company’s shares opened today at $23.40.

Van Horn said:

“PT) is scheduled to hold an analyst & investor day on August 22 that we think will focus mainly on the company’s advanced technology portfolio and related growth opportunities that could play out over the near, medium, and long term. Ahead of the event, we reiterate our view that increasing adoption of the company’s products will allow it to continue growing sales and earnings faster than underlying auto production rates in key markets, and that this above-production growth deserves a premium valuation. We also believe that the company’s best-in-class margin profile and robust FCF generation capabilities should also allow it to continue returning capital to shareholders as well as reinvesting into the business to support future growth.”

According to TipRanks.com, Horn is a 4-star analyst with an average return of 8.6% and a 57.4% success rate. Horn covers the Industrial Goods sector, focusing on stocks such as Superior Industries International, Tower International, and Park-Ohio Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gentex with a $28.50 average price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $25.41 and a one-year low of $16.86. Currently, Gentex has an average volume of 2.02M.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Gentex Corp. engages in the design, development, and manufacture of electro-optical products for the automotive, commercial building, and aircraft industries. Its revenue is derived from the production and sales of automotive products in the United States, Germany, and Japan.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts