Gentex Co. (NASDAQ:GNTX) Receives Average Rating of “Moderate Buy” from Analysts

Gentex Co. (NASDAQ:GNTX) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $37.83.

A number of analysts have weighed in on the stock. B. Riley raised their price objective on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Guggenheim raised their target price on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, StockNews.com upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research report on Sunday, June 16th.

Insider Activity at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $34.46, for a total transaction of $162,513.36. Following the sale, the director now directly owns 3,764 shares in the company, valued at approximately $129,707.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners raised its stake in Gentex by 4.2% in the 1st quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock valued at $206,095,000 after purchasing an additional 230,873 shares during the last quarter. Cetera Investment Advisers raised its stake in Gentex by 91.0% in the 1st quarter. Cetera Investment Advisers now owns 127,876 shares of the auto parts company’s stock valued at $4,619,000 after purchasing an additional 60,934 shares during the last quarter. LRI Investments LLC acquired a new position in Gentex in the 1st quarter valued at about $93,000. iA Global Asset Management Inc. acquired a new position in Gentex in the 1st quarter valued at about $668,000. Finally, Comerica Bank increased its stake in shares of Gentex by 96.4% during the 1st quarter. Comerica Bank now owns 247,013 shares of the auto parts company’s stock valued at $8,922,000 after acquiring an additional 121,269 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Up 2.3 %

Shares of NASDAQ:GNTX opened at $34.49 on Thursday. The firm’s 50 day moving average price is $34.38 and its 200 day moving average price is $34.29. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 0.95 and a beta of 0.97. Gentex has a fifty-two week low of $27.56 and a fifty-two week high of $37.58.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The company had revenue of $590.23 million for the quarter, compared to analyst estimates of $600.38 million. During the same period in the previous year, the business posted $0.42 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Gentex will post 2.11 EPS for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 17th. Investors of record on Friday, July 5th will be given a $0.12 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.