Zacks Investment Research upgraded shares of Gentex (NASDAQ:GNTX) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $23.00 price target on the auto parts company’s stock.

According to Zacks, “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. It’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. Within this business segment, the Company also designs, develops and manufactures various electronics that are features to the interior and exterior automotive rearview mirrors, as well as interior visors, overhead consoles, and other locations in the vehicle. The Company ships its products to all of the automotive producing regions across the world, which it supports with various sales, engineering and distribution locations across the world. Gentex is headquartered in Zeeland, MI. “

Several other equities analysts have also issued reports on the company. ValuEngine lowered Gentex from a buy rating to a hold rating in a research note on Friday, September 1st. Robert W. Baird decreased their price target on Gentex from $22.00 to $21.00 and set an outperform rating on the stock in a research note on Monday, October 23rd. FBR & Co reiterated a buy rating and issued a $25.00 price target on shares of Gentex in a research note on Wednesday, October 18th. KeyCorp reiterated a buy rating and issued a $25.00 price target on shares of Gentex in a research note on Sunday, October 15th. Finally, BidaskClub upgraded Gentex from a buy rating to a strong-buy rating in a research note on Friday, December 22nd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $22.21.

Gentex (GNTX) opened at $21.06 on Tuesday. Gentex has a 52 week low of $16.59 and a 52 week high of $22.12. The stock has a market capitalization of $5,950.00, a price-to-earnings ratio of 16.71, a PEG ratio of 1.70 and a beta of 1.22.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. Gentex had a return on equity of 18.45% and a net margin of 20.80%. The company had revenue of $438.63 million for the quarter, compared to analyst estimates of $452.42 million. During the same quarter last year, the company posted $0.32 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. equities analysts expect that Gentex will post 1.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Friday, January 5th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, January 4th. Gentex’s dividend payout ratio (DPR) is 31.75%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of Gentex by 4.4% during the 2nd quarter. BlackRock Inc. now owns 24,223,258 shares of the auto parts company’s stock valued at $459,513,000 after acquiring an additional 1,009,789 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Gentex by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,196,105 shares of the auto parts company’s stock valued at $440,030,000 after acquiring an additional 358,903 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Gentex by 3.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 6,827,345 shares of the auto parts company’s stock valued at $135,181,000 after acquiring an additional 237,855 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Gentex by 164.3% during the 2nd quarter. Schroder Investment Management Group now owns 6,666,657 shares of the auto parts company’s stock valued at $124,467,000 after acquiring an additional 4,144,300 shares in the last quarter. Finally, Scharf Investments LLC boosted its holdings in shares of Gentex by 1.9% during the 3rd quarter. Scharf Investments LLC now owns 6,195,520 shares of the auto parts company’s stock valued at $122,671,000 after acquiring an additional 116,104 shares in the last quarter. 81.72% of the stock is currently owned by institutional investors.

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About Gentex

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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