Gentex Corporation (NASDAQ:GNTX) Receives Average Recommendation of “Hold” from Analysts

Gentex Corporation (NASDAQ:GNTX) has received a consensus rating of “Hold” from the eight ratings firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.8333.

A number of brokerages have issued reports on GNTX. Robert W. Baird increased their price target on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. increased their price target on Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Freedom Capital raised Gentex to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen lowered Gentex from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Gentex in a research note on Tuesday, June 2nd.

Gentex Stock Performance

Shares of NASDAQ GNTX opened at $25.95 on Monday. The stock has a fifty day moving average price of $23.70 and a two-hundred day moving average price of $23.35. The firm has a market cap of $5.53 billion, a P/E ratio of 14.58 and a beta of 0.79. Gentex has a 1 year low of $20.48 and a 1 year high of $29.38.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. On average, research analysts predict that Gentex will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. Gentex’s dividend payout ratio (DPR) is currently 26.97%.

Insider Transactions at Gentex

In other news, Director Brian C. Walker sold 5,939 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the sale, the director directly owned 24,205 shares of the company’s stock, valued at $556,230.90. This trade represents a 19.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard O. Schaum sold 4,815 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total value of $112,237.65. Following the sale, the director directly owned 81,443 shares of the company’s stock, valued at approximately $1,898,436.33. This represents a 5.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 16,693 shares of company stock valued at $385,194 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

Large investors have recently modified their holdings of the stock. Anchor Investment Management LLC bought a new stake in shares of Gentex during the 1st quarter worth $26,000. Clearstead Advisors LLC boosted its stake in shares of Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 1,985 shares in the last quarter. Arax Advisory Partners bought a new stake in shares of Gentex during the 4th quarter worth $52,000. Finally, AdvisorNet Financial Inc boosted its stake in shares of Gentex by 2,299.0% during the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after acquiring an additional 2,299 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

About Gentex

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).