Goldman Sachs Adjusts Price Target for Gentex to $29, Maintains Neutral Rating
May 4, 2023
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Gentex Corporation ($NASDAQ:GNTX) is a leading global supplier of digital vision, connected car, dimmable glass, fire protection and smart technology products. The company is publicly traded on the NASDAQ stock exchange under the symbol GNTX. Goldman Sachs has recently adjusted its price target for Gentex to $29 from $28 and maintained its Neutral rating. This implies that Goldman Sachs believes that the stock is fairly valued and has no further upside potential.
Goldman Sachs also believes that Gentex will be able to maintain its performance as the company has been consistently growing and expanding its product lines. Despite the price target adjustment, Goldman Sachs has continued to view Gentex as a company with strong long-term potential.
Price History
On Tuesday, Gentex opened at $27.8 and closed at the same price, a 0.3% decrease from the prior closing of 27.9. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gentex Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 2k | 325.29 | 16.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gentex Corporation. More…
| Operations | Investing | Financing |
| 338.2 | -172.74 | -209.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gentex Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.43k | 310.09 | 8.82 |
Key Ratios Snapshot
Some of the financial key ratios for Gentex Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.8% | -7.0% | 19.0% |
| FCF Margin | ROE | ROA |
| 9.6% | 11.5% | 9.8% |
Analysis
At GoodWhale, we have completed a thorough analysis of the fundamentals of GENTEX CORPORATION. We assign them a medium-risk rating, which means that there are both positives and negatives to consider before investing. Our analysis has identified three risk warnings in the income sheet, balance sheet, and nonfinancial areas. To learn more about these risk warnings and our assessment, please register as a user with us and take a look. More…
Peers
The company’s main competitors are Standard Motor Products Inc, Dorman Products Inc, LCI Industries Inc.
– Standard Motor Products Inc ($NYSE:SMP)
As of 2022, Standard Motor Products Inc has a market cap of 764.51M and a ROE of 12.67%. The company manufactures and distributes automotive parts and accessories.
– Dorman Products Inc ($NASDAQ:DORM)
Dorman Products Inc is a leading supplier of automotive replacement parts, including brake parts, engine parts, and suspension parts. The company has a market cap of 2.73B as of 2022 and a Return on Equity of 14.77%. Dorman’s products are sold through a variety of channels, including mass retailers, warehouse clubs, and automotive aftermarket distributors. The company has a strong presence in the United States and also operates in Canada, Mexico, and Europe.
– LCI Industries Inc ($NYSE:LCII)
LCI Industries, through its subsidiaries, manufactures and sells components and systems to the recreational vehicle, marine, commercial, and industrial markets. It operates through two segments, Original Equipment Manufacturing and Aftermarket. The company’s products include awnings, slide-out assemblies and systems, windows, doors, trim products, molded shower units, aluminum extrusions, vinyl and aluminum fencing and gates, lights, and other products. It offers its products under the Lippert Components, Kinro, Better Bath, Gladiator, RadianceLighting, Component Hardware Group, and RVupgrades brand names. LCI Industries was founded in 1955 and is headquartered in Elkhart, Indiana.
Summary
Gentex Corporation is a publicly traded company specializing in automotive and fire protection products. Recently, Goldman Sachs adjusted the price target for Gentex to $29 from $28 while maintaining a neutral rating. Investment analysis of Gentex is based on the company’s strong fundamentals and its position as a leader in fire protection and automotive product manufacturing. The company also benefits from a strong balance sheet, low debt, and significant cash reserves. Gentex has seen increased demand for its products in recent years, leading to higher revenue and consistent profitability.
In addition, the company has been able to grow its market share and increase profitability through product innovation and technological improvements. Investors should consider investing in Gentex as it offers potential long-term returns.
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