In a report issued on October 19, Christopher Van Horn from B.Riley FBR reiterated a Buy rating on Gentex (NASDAQ: GNTX), with a price target of $29. The company’s shares opened today at $20.48.
Van Horn wrote:
“Gentex (GNTX) reported third quarter earnings on October 19. EPS were $0.42 vs. our $0.41 and consensus $0.42. Sales rose 5% Y/Y , an impressive figure, in our view, considering a somewhat challenging 3Q auto production environment in GNTX’s key markets. While gross margin was lighter than modeled (37.6% vs. our 38.4%), we flagged risk from tariffs in our 3Q18 auto preview (October 17 report) and to that point about 60 bps of pressure on GNTX’s 3Q gross margins came from tariffs that went into effect during the quarter. Furthermore, EPS were in line and we think that demonstrates the resilience of the GNTX earnings profile amid ongoing global trade tensions.”
According to TipRanks.com, Horn is a 4-star analyst with an average return of 3.8% and a 49.0% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Motorcar Parts Of America, Standard Motor Products, and Methode Electronics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gentex with a $23.75 average price target, which is a 16.0% upside from current levels. In a report issued on October 17, Wells Fargo also maintained a Buy rating on the stock with a $22.50 price target.
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The company has a one-year high of $25.41 and a one-year low of $17.80. Currently, Gentex has an average volume of 2.31M.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock.
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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.
