Gentex Corporation (NASDAQ:GNTX) Receives $27.00 Consensus PT from Analysts

Shares of Gentex Corporation (NASDAQ:GNTX) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $26.80.

A number of research analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Gentex from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Freedom Capital downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings raised Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. dropped their price target on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th.

Insider Activity at Gentex

In related news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brian C. Walker sold 5,939 shares of Gentex stock in a transaction on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the transaction, the director owned 24,205 shares in the company, valued at approximately $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GNTX. Anchor Investment Management LLC acquired a new stake in Gentex in the first quarter valued at about $26,000. AdvisorNet Financial Inc increased its position in Gentex by 2,299.0% during the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after purchasing an additional 2,299 shares during the period. Arax Advisory Partners purchased a new position in shares of Gentex during the 4th quarter worth approximately $52,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Gentex during the 2nd quarter worth approximately $54,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of Gentex in the 4th quarter valued at approximately $56,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Stock Down 1.0%

Shares of NASDAQ GNTX opened at $23.85 on Tuesday. The business has a 50-day moving average price of $24.52 and a 200 day moving average price of $23.50. The stock has a market cap of $5.08 billion, a PE ratio of 12.62 and a beta of 0.79. Gentex has a 52-week low of $20.48 and a 52-week high of $29.38.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. The company had revenue of $651.30 million for the quarter, compared to analyst estimates of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Sell-side analysts anticipate that Gentex will post 1.99 earnings per share for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Gentex’s payout ratio is presently 25.40%.

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).