Bank of America Securities Remains a Hold on Gentex (GNTX)
In a report released today, John Murphy from Bank of America Securities maintained a Hold rating on Gentex (GNTX – Research Report), with a price target of $28.00. The company’s shares closed last Friday at $21.72.
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According to TipRanks, Murphy is a 5-star analyst with an average return of 7.4% and a 57.03% success rate. Murphy covers the Consumer Cyclical sector, focusing on stocks such as Ford Motor, General Motors, and Group 1 Automotive.
The word on The Street in general, suggests a Hold analyst consensus rating for Gentex with a $24.33 average price target.
Based on Gentex’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $576.77 million and a net profit of $94.87 million. In comparison, last year the company earned a revenue of $590.23 million and had a net profit of $108.23 million
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GNTX in relation to earlier this year. Last month, Joseph B. Anderson, a Director at GNTX sold 3,764.00 shares for a total of $86,045.04.
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