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

Gentex Corporation (NASDAQ:GNTX) has been given a consensus rating of “Hold” by the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $26.80.

Several research analysts have weighed in on GNTX shares. JPMorgan Chase & Co. lowered their target price on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. UBS Group reiterated a “neutral” rating and issued a $25.00 target price (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Freedom Capital lowered Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th.

Institutional Investors Weigh In On Gentex

Several large investors have recently added to or reduced their stakes in GNTX. XXEC Inc. acquired a new stake in Gentex during the 2nd quarter worth approximately $7,705,220,000. BlackRock Inc. acquired a new position in shares of Gentex in the second quarter worth $550,287,000. Wellington Management Group LLP increased its position in shares of Gentex by 10.3% during the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company’s stock worth $419,636,000 after acquiring an additional 1,383,203 shares during the period. Bank of Montreal Can increased its position in shares of Gentex by 14,398.7% during the fourth quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock worth $179,785,000 after acquiring an additional 7,672,769 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Gentex by 12.6% in the first quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company’s stock valued at $163,067,000 after acquiring an additional 833,919 shares in the last quarter. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Up 3.3%

GNTX stock opened at $22.86 on Friday. Gentex has a 52-week low of $20.48 and a 52-week high of $29.38. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 12.10 and a beta of 0.80. The business has a fifty day moving average of $23.87 and a two-hundred day moving average of $23.43.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The company’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 EPS. As a group, sell-side analysts anticipate that Gentex will post 2.07 EPS for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, October 7th. Gentex’s dividend payout ratio is currently 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).