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

Shares of Gentex Corporation (NASDAQ:GNTX) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $27.00.

A number of brokerages recently commented on GNTX. Weiss Ratings upgraded shares of 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. B. Riley Financial reaffirmed a “buy” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a report on Monday, April 27th. JPMorgan Chase & Co. lifted their price target on Gentex from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Finally, Freedom Capital cut Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th.

Insider Buying and Selling

In related news, Director Brian C. Walker sold 5,939 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. Following the completion of the transaction, the director directly owned 24,205 shares of the company’s stock, valued at $556,230.90. This represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Clearstead Advisors LLC lifted its holdings in shares of Gentex by 21.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 437 shares in the last quarter. Gagnon Securities LLC grew its holdings in shares of Gentex by 0.8% during the fourth quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock valued at $1,295,000 after buying an additional 458 shares in the last quarter. Crumly & Associates Inc. grew its holdings in shares of Gentex by 3.7% during the second quarter. Crumly & Associates Inc. now owns 13,291 shares of the auto parts company’s stock valued at $336,000 after buying an additional 478 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Gentex by 1.6% during the first quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company’s stock valued at $662,000 after buying an additional 487 shares during the period. Finally, Sei Investments Co. raised its position in Gentex by 0.3% during the first quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company’s stock valued at $4,300,000 after buying an additional 521 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Stock Performance

Shares of GNTX opened at $23.54 on Tuesday. Gentex has a 1 year low of $20.48 and a 1 year high of $29.38. The stock has a market capitalization of $5.01 billion, a PE ratio of 12.46 and a beta of 0.79. The stock has a 50-day simple moving average of $24.52 and a 200-day simple moving average of $23.49.

Gentex (NASDAQ:GNTX) last released its 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. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The firm had revenue of $651.30 million for the quarter, compared to analyst estimates of $669.65 million. During the same period in the prior year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts predict that Gentex will post 1.99 EPS for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, July 8th. This represents a $0.48 annualized dividend and a 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).