Gentex Corporation (NASDAQ:GNTX) Stock Has Average Price Target of $26.80 According to Brokerages

Shares of Gentex Corporation (NASDAQ:GNTX) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat reports. Six 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 updated their coverage on the stock in the last year is $26.80.

GNTX has been the subject of several research analyst reports. Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. UBS Group reaffirmed a “neutral” rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. JPMorgan Chase & Co. reduced their target price on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research report on Friday, September 18th.

Gentex Stock Up 2.5%

NASDAQ:GNTX opened at $22.58 on Wednesday. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 11.95 and a beta of 0.80. Gentex has a 12 month low of $20.48 and a 12 month high of $29.01. The company’s 50 day moving average is $23.21 and its 200-day moving average is $23.30.

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

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th will be paid 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 25.40%.

Institutional Trading of Gentex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC acquired a new stake in shares of Gentex during the 1st quarter worth approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Gentex in the 2nd quarter valued at $54,000. AdvisorNet Financial Inc increased its holdings in shares of Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after acquiring an additional 2,299 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in Gentex during the 4th quarter worth approximately $56,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Gentex by 21.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 437 shares during the period. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Company Profile

Gentex Corporation is a technology and manufacturing company headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, serving vehicle manufacturers and suppliers in North America, Europe, Asia and other international markets.

Gentex is best known for its automatic-dimming rearview mirrors, which use electrochromic technology to reduce glare from headlights. Its automotive product portfolio also includes camera-based driver-assistance systems, digital rearview mirrors, vehicle display and connectivity technologies, lighting products, and other electronic features designed to support vehicle safety, convenience and visibility.

The company also develops fire-protection products, including smoke detectors and signaling devices for residential, commercial and industrial applications.