Gentex Corporation (NASDAQ:GNTX) Receives Consensus Rating of “Hold” from Brokerages

Shares of Gentex Corporation (NASDAQ:GNTX) have earned an average rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $26.6667.

Several equities analysts have recently issued reports on GNTX shares. B. Riley Financial reissued a “buy” rating and set a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday. Freedom Capital raised Gentex to a “strong-buy” rating in a research note on Friday, March 27th. Robert W. Baird boosted their target price on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday. UBS Group set a $26.00 target price on Gentex in a research note on Sunday. Finally, JPMorgan Chase & Co. reduced their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, April 23rd.

Gentex Stock Performance

Shares of GNTX stock opened at $23.11 on Friday. Gentex has a fifty-two week low of $20.48 and a fifty-two week high of $29.38. The stock has a 50 day moving average price of $22.25 and a two-hundred day moving average price of $23.28. The company has a market capitalization of $4.94 billion, a P/E ratio of 12.98 and a beta of 0.77.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The firm had revenue of $675.44 million during the quarter, compared to the consensus estimate of $649.42 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The business’s revenue was up 17.1% on a year-over-year basis. As a group, equities analysts predict that Gentex will post 1.92 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, April 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. Gentex’s payout ratio is 26.97%.

Insiders Place Their Bets

In other news, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total transaction of $296,887.30. Following the transaction, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at approximately $1,484,561.40. The trade was a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total value of $112,237.65. Following the transaction, the director directly owned 81,443 shares in the company, valued at $1,898,436.33. This trade represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 62,948 shares of company stock valued at $1,554,550 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Gentex in the third quarter worth $38,000. Clearstead Advisors LLC grew its stake in Gentex by 82.3% in the third quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 922 shares during the period. CIBC Private Wealth Group LLC grew its stake in Gentex by 2,420.7% in the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 1,985 shares during the period. Arax Advisory Partners purchased a new stake in Gentex in the fourth quarter worth $52,000. Finally, Grey Fox Wealth Advisors LLC purchased a new stake in Gentex in the third quarter worth $65,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Company Profile

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).