Gentex Co. (NASDAQ:GNTX) Receives $39.40 Consensus Target Price from Brokerages

Shares of Gentex Co. (NASDAQ:GNTX) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $39.40.

Several analysts recently issued reports on GNTX shares. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Guggenheim upped their price objective on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Robert W. Baird decreased their price objective on shares of Gentex from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, July 12th.

Gentex Stock Down 3.7 %

GNTX stock opened at $33.32 on Monday. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 0.98 and a beta of 0.93. Gentex has a 12 month low of $27.86 and a 12 month high of $37.58. The firm has a 50 day moving average of $34.19 and a two-hundred day moving average of $34.49.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). The business had revenue of $590.23 million during the quarter, compared to the consensus estimate of $600.38 million. Gentex had a return on equity of 19.19% and a net margin of 18.77%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, research analysts expect that Gentex will post 2.11 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Friday, July 5th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, July 5th. Gentex’s payout ratio is currently 25.40%.

Insider Activity at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $34.46, for a total value of $162,513.36. Following the completion of the transaction, the director now owns 3,764 shares in the company, valued at approximately $129,707.44. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Gentex

A number of hedge funds have recently made changes to their positions in GNTX. Norges Bank acquired a new position in shares of Gentex in the 4th quarter valued at $89,843,000. First Trust Advisors LP raised its stake in shares of Gentex by 301.6% in the 4th quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock valued at $83,896,000 after buying an additional 1,929,150 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Gentex by 27.9% in the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after buying an additional 1,905,356 shares in the last quarter. TD Asset Management Inc increased its position in shares of Gentex by 41.2% during the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after purchasing an additional 1,363,898 shares in the last quarter. Finally, Motley Fool Asset Management LLC increased its position in shares of Gentex by 287.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock worth $43,494,000 after purchasing an additional 893,552 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

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.