Longbow Research analyst Anthony Deem maintained a Buy rating on Gentex (NASDAQ: GNTX) today and set a price target of $28. The company’s shares closed yesterday at $23.52.
Deem observed:
“Why BUY? We believe continued share price recovery is likely as GNTX is an auto technology supplier with premium growth as much as 800bp over market. The company has margins in a class of their own, and near 100% free cash flow conversion accompanied by the new management team’s more shareholder-friendly capital allocation philosophy. Despite outperformance in all fundamental aspects, shares only trade at a modest premium vs. the group average (13x vs. 12x).”
According to TipRanks.com, Deem has 0 stars on 0-5 star ranking scale with an average return of -13.6% and a 19.2% success rate. Deem covers the Industrial Goods sector, focusing on stocks such as Visteon Corp, Veoneer Inc, and Adient plc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Gentex with a $28.50 average price target, implying a 21.2% upside from current levels. In a report issued on August 14, B.Riley FBR also reiterated a Buy rating on the stock with a $29 price target.
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Gentex’s market cap is currently $6.32B and has a P/E ratio of 14.98. The company has a Price to Book ratio of 3.29.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is neutral 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.
