Gentex Corporation (GNTX) Given Average Recommendation of “Hold” by Analysts
Shares of Gentex Corporation (NASDAQ:GNTX) have received an average rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $21.58.
A number of brokerages have weighed in on GNTX. Zacks Investment Research upgraded shares of Gentex Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Robert W. Baird upgraded shares of Gentex Corporation from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $17.36 to $22.00 in a report on Thursday, August 24th. BidaskClub cut shares of Gentex Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. FBR & Co restated an “outperform” rating and issued a $25.00 price objective on shares of Gentex Corporation in a report on Monday, July 24th. Finally, Craig Hallum cut shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a report on Monday, July 24th.
Shares of Gentex Corporation (GNTX) traded up 1.39% during mid-day trading on Wednesday, hitting $19.75. The stock had a trading volume of 1,496,596 shares. The firm has a market capitalization of $5.64 billion, a price-to-earnings ratio of 15.67 and a beta of 1.15. The stock’s 50-day moving average is $17.87 and its 200 day moving average is $19.16. Gentex Corporation has a 1-year low of $16.06 and a 1-year high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). The company had revenue of $443.10 million during the quarter, compared to the consensus estimate of $446.36 million. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. Gentex Corporation’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 earnings per share. Equities research analysts predict that Gentex Corporation will post $1.27 EPS for the current fiscal year.
Gentex Corporation announced that its board has approved a share buyback plan on Wednesday, August 23rd that permits the company to buyback 15,000,000 outstanding shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, October 5th. Gentex Corporation’s dividend payout ratio (DPR) is presently 31.50%.
In other news, Chairman Fred Bauer sold 239,400 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the sale, the chairman now owns 5,771,128 shares in the company, valued at $100,013,648.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.
Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Gentex Corporation by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after buying an additional 368 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Gentex Corporation by 11.4% during the first quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock valued at $181,000 after buying an additional 870 shares during the last quarter. HPM Partners LLC purchased a new stake in shares of Gentex Corporation during the second quarter valued at approximately $339,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Gentex Corporation during the second quarter valued at approximately $194,000. Finally, LVM Capital Management Ltd. MI purchased a new stake in shares of Gentex Corporation during the second quarter valued at approximately $194,000. Hedge funds and other institutional investors own 80.83% of the company’s stock.
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About Gentex Corporation
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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