Goldman Sachs analyst Mark Delaney has maintained their neutral stance on GNTX stock, giving a Hold rating on October 19.
Mark Delaney has given his Hold rating due to a combination of factors that were apparent in Gentex’s recent report. This report showed a strong performance from Gentex, with the company reporting higher revenues and making strides in improving margins, albeit at a slower rate than in the second quarter. These encouraging results were driven by factors such as improved volume and cost. Additionally, Gentex restated its guidance for revenue and margins for 2023 and its revenue outlook for 2024.
However, despite these positive elements, Delaney maintains a neutral stance. This is primarily due to his view that the current valuation of Gentex’s stock is full. At the moment, GNTX is trading at 15 times Delaney’s next twelve months EPS forecast, as opposed to the peer median, which is about 9 times. This, coupled with the fact that he believes Gentex will benefit from an upward trend in auto production, easing supply constraints, and growth opportunities driven by advanced features and products like Full Display Mirror (FDM), justifies the Hold rating.
According to TipRanks, Delaney is a 5-star analyst with an average return of 12.5% and a 56.56% success rate. Delaney covers the Technology sector, focusing on stocks such as Tesla, Symbotic, and Keysight Technologies.
In another report released on October 19, J.P. Morgan also maintained a Hold rating on the stock with a $35.00 price target.
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Gentex (GNTX) Company Description:
Gentex Corp. engages in the design, development, and manufacture and supply of digital vision, connected car, dimmable glass, and fire protection products, Its revenue is derived from the production and sales of automotive products in the United States, Germany, and Japan. Its products include automatic-dimming rearview mirrors, dimmable aircraft windows, and commercial smoke alarms and signaling devices. The company was founded by Fred Bauer in 1974 and is headquartered in Zeeland, MI.
Read More on GNTX:
- Gentex Reports Third Quarter 2023 Financial Results
- GNTX Upcoming Earnings Report: What to Expect?
- Avalon Park Group Holding AG and Avalon Park International LLC Enter into Stock Purchase Agreement with Gentex Corporation
- Gentex Schedules Third Quarter 2023 Earnings Release Date and Conference Call
- Gentex Continues Expansion Into Grand Rapids With Opening of Downtown Technology Hub
