Gentex (NASDAQ:GNTX) Hits New 1-Year Low – Here’s Why

Gentex Co. (NASDAQ:GNTX)’s stock price hit a new 52-week low on Thursday . The company traded as low as $22.83 and last traded at $22.91, with a volume of 135899 shares trading hands. The stock had previously closed at $23.52.

Analyst Upgrades and Downgrades

GNTX has been the subject of a number of analyst reports. Robert W. Baird set a $31.00 price objective on Gentex in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Guggenheim set a $30.00 price target on shares of Gentex in a research report on Wednesday, March 5th. B. Riley reaffirmed a “buy” rating and set a $32.50 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Finally, UBS Group reduced their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.81.

Gentex Stock Performance

The firm’s 50-day moving average price is $24.70 and its 200 day moving average price is $27.85. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, equities research analysts predict that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.17%. The ex-dividend date is Wednesday, April 9th. Gentex’s payout ratio is presently 27.27%.

Hedge Funds Weigh In On Gentex

A number of large investors have recently added to or reduced their stakes in GNTX. Midwest Capital Advisors LLC bought a new stake in shares of Gentex in the fourth quarter worth $26,000. TD Private Client Wealth LLC boosted its stake in shares of Gentex by 138.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock worth $33,000 after buying an additional 662 shares during the last quarter. Synergy Asset Management LLC bought a new position in shares of Gentex in the 4th quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Gentex by 32.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock valued at $70,000 after acquiring an additional 593 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in Gentex by 33.2% during the fourth quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company’s stock worth $79,000 after acquiring an additional 686 shares in the last quarter. Institutional investors 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.