Gentex Corporation (NASDAQ:GNTX) Stock Has Consensus Price Target of $25.20

Gentex Corporation (NASDAQ:GNTX) has earned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $25.20.

Several equities analysts have recently weighed in on GNTX shares. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. UBS Group cut their price objective on shares of Gentex from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. The Goldman Sachs Group cut shares of Gentex from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $23.00 to $20.00 in a report on Tuesday, October 6th. Finally, Freedom Capital downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th.

Gentex Stock Performance

Shares of GNTX opened at $21.26 on Friday. The firm has a market capitalization of $4.53 billion, a PE ratio of 10.70 and a beta of 0.86. Gentex has a 52-week low of $20.48 and a 52-week high of $26.99. The stock has a 50 day simple moving average of $22.41 and a 200 day simple moving average of $23.30.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The business had revenue of $651.30 million for the quarter, compared to analyst estimates of $669.65 million. During the same period last year, the business posted $0.43 earnings per share. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Equities research analysts predict that Gentex will post 2.06 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.48 annualized dividend and a yield of 2.3%. Gentex’s payout ratio is 25.40%.

Hedge Funds Weigh In On Gentex

A number of large investors have recently modified their holdings of the business. Anchor Investment Management LLC bought a new stake in shares of Gentex during the 1st quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Gentex in the 2nd quarter valued at approximately $54,000. AdvisorNet Financial Inc grew its stake in shares of Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after buying an additional 2,299 shares in the last quarter. North Point Portfolio Managers Corp OH bought a new position in shares of Gentex in the third quarter valued at $55,000. Finally, Versant Capital Management Inc grew its stake in shares of Gentex by 28.7% in the second quarter. Versant Capital Management Inc now owns 2,698 shares of the auto parts company’s stock valued at $68,000 after buying an additional 602 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.

About Gentex

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.