Gentex Corporation (NASDAQ:GNTX) Stock Has Average Price Target of $23.08 According to Analysts

Shares of Gentex Corporation (NASDAQ:GNTX) have earned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.08.

GNTX has been the topic of a number of analyst reports. B. Riley Financial cut their target price on Gentex from $29.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. The Goldman Sachs Group downgraded Gentex from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $23.00 to $20.00 in a report on Tuesday, October 6th. UBS Group reissued a “neutral” rating and set a $21.00 price target (down from $24.00) on shares of Gentex in a research note on Monday, October 26th. Seaport Research Partners set a $25.00 price objective on Gentex in a report on Monday, October 26th. Finally, Freedom Capital cut Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th.

Hedge Funds Weigh In On Gentex

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in Gentex in the second quarter valued at approximately $29,155,000. MAC Alpha Capital Management LP lifted its stake in Gentex by 36.0% in the 2nd quarter. MAC Alpha Capital Management LP now owns 416,657 shares of the auto parts company’s stock valued at $10,530,000 after buying an additional 110,300 shares in the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Gentex by 25,026.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 188,450 shares of the auto parts company’s stock worth $4,118,000 after buying an additional 187,700 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Gentex in the 2nd quarter worth about $1,533,000. Finally, BlackRock Inc. purchased a new stake in Gentex during the 2nd quarter worth approximately $550,287,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Price Performance

Shares of Gentex stock traded down $0.17 during trading on Thursday, hitting $19.20. The stock had a trading volume of 3,205,859 shares, compared to its average volume of 3,294,588. The firm’s fifty day simple moving average is $21.28 and its 200-day simple moving average is $22.91. The stock has a market cap of $3.94 billion, a PE ratio of 10.32 and a beta of 0.85. Gentex has a 12 month low of $19.19 and a 12 month high of $26.48.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 23rd. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $647.71 million for the quarter, compared to the consensus estimate of $669.69 million. Gentex had a net margin of 15.15% and a return on equity of 16.67%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 earnings per share. Analysts expect that Gentex will post 2.02 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, October 7th. Gentex’s dividend payout ratio (DPR) is 25.81%.

About Gentex

Gentex Corporation is a technology company headquartered in Zeeland, Michigan. It develops and manufactures products primarily for the global automotive industry, including automatic-dimming rearview and exterior mirrors, camera-based visibility systems, and other electronic features for vehicles. Its automotive offerings also include HomeLink, a vehicle-based wireless control system for compatible garage doors, gates, and home devices. Gentex supplies automakers around the world and works with customers to integrate its products into new vehicles.