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

Gentex Corporation (NASDAQ:GNTX) has received a consensus rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $26.6667.

Several equities research analysts have weighed in on the company. Wall Street Zen raised Gentex from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Robert W. Baird boosted their price objective on Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Freedom Capital raised Gentex to a “strong-buy” rating in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. raised their target price on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th.

Gentex Price Performance

NASDAQ:GNTX opened at $23.86 on Friday. The firm has a market capitalization of $5.08 billion, a P/E ratio of 13.40 and a beta of 0.78. Gentex has a 1-year low of $20.48 and a 1-year high of $29.38. The company’s fifty day moving average price is $24.30 and its 200-day moving average price is $23.49.

Gentex (NASDAQ:GNTX) last posted its 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 company had revenue of $675.44 million during the quarter, compared to the consensus estimate of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. Equities analysts anticipate that Gentex will post 1.97 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 8th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, July 8th. Gentex’s dividend payout ratio is currently 26.97%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard O. Schaum sold 4,815 shares of Gentex stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the transaction, the director directly owned 81,443 shares of the company’s stock, valued at approximately $1,898,436.33. This trade represents a 5.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,693 shares of company stock valued at $385,194 in the last 90 days. 0.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNTX. Anchor Investment Management LLC acquired a new position in shares of Gentex in the first quarter worth about $26,000. 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 acquired a new stake in shares of Gentex during the 4th quarter valued at about $52,000. AdvisorNet Financial Inc grew its position 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 valued at $52,000 after acquiring an additional 2,299 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in shares of Gentex in the 4th quarter valued at about $56,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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).