Gentex Co. (NASDAQ:GNTX) Receives Average Rating of “Hold” from Analysts

Gentex Co. (NASDAQ:GNTX) has earned a consensus rating of “Hold” from the seven research firms that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $36.86.

A number of research analysts have commented on the company. BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, July 30th. UBS Group assumed coverage on Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target for the company. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Robert W. Baird dropped their target price on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd.

Insider Activity

In other news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Gentex

Hedge funds have recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new stake in shares of Gentex during the 2nd quarter valued at about $1,356,000. Cetera Investment Advisers raised its position in Gentex by 22.9% during the second quarter. Cetera Investment Advisers now owns 157,214 shares of the auto parts company’s stock valued at $5,300,000 after purchasing an additional 29,338 shares during the period. Truist Financial Corp raised its position in Gentex by 22.5% during the second quarter. Truist Financial Corp now owns 642,283 shares of the auto parts company’s stock valued at $21,651,000 after purchasing an additional 117,843 shares during the period. Disciplined Growth Investors Inc. MN lifted its stake in shares of Gentex by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,259,831 shares of the auto parts company’s stock valued at $143,599,000 after purchasing an additional 43,457 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Gentex by 4.1% in the 2nd quarter. Creative Planning now owns 60,685 shares of the auto parts company’s stock worth $2,046,000 after purchasing an additional 2,393 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $29.83 on Tuesday. The stock has a market capitalization of $6.87 billion, a P/E ratio of 15.78, a PEG ratio of 0.99 and a beta of 0.92. Gentex has a one year low of $27.86 and a one year high of $37.58. The firm’s 50 day simple moving average is $31.46 and its two-hundred day simple moving average is $33.76.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). The company had revenue of $572.93 million during the quarter, compared to the consensus estimate of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. As a group, equities analysts expect that Gentex will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.61%. Gentex’s dividend payout ratio is presently 25.40%.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.