Brokerages Set Gentex Co. (NASDAQ:GNTX) PT at $37.83

Gentex Co. (NASDAQ:GNTX) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $37.83.

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. B. Riley raised their price objective on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Guggenheim increased their price target on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group raised their price target on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, January 29th.

Insider Transactions at Gentex

In other news, CFO Kevin C. Nash sold 13,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Merit Financial Group LLC purchased a new stake in Gentex during the third quarter worth approximately $618,000. IFG Advisory LLC raised its stake in Gentex by 85.1% during the 4th quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock worth $4,220,000 after acquiring an additional 59,407 shares in the last quarter. New York Life Investment Management LLC lifted its position in Gentex by 112.3% in the third quarter. New York Life Investment Management LLC now owns 24,876 shares of the auto parts company’s stock valued at $809,000 after acquiring an additional 13,161 shares during the last quarter. Cumberland Partners Ltd boosted its stake in Gentex by 104.1% in the fourth quarter. Cumberland Partners Ltd now owns 184,655 shares of the auto parts company’s stock valued at $6,030,000 after acquiring an additional 94,195 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Gentex by 130.7% during the third quarter. Jump Financial LLC now owns 123,805 shares of the auto parts company’s stock worth $4,029,000 after purchasing an additional 70,138 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Performance

Shares of Gentex stock opened at $34.13 on Wednesday. The firm’s 50-day moving average price is $35.59 and its 200 day moving average price is $33.16. Gentex has a twelve month low of $25.86 and a twelve month high of $37.58. The firm has a market capitalization of $7.89 billion, a PE ratio of 18.06, a P/E/G ratio of 0.75 and a beta of 0.98.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a net margin of 18.77% and a return on equity of 19.19%. The firm had revenue of $590.23 million during the quarter, compared to analyst estimates of $600.38 million. During the same period in the prior year, the company posted $0.42 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Gentex will post 2.11 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex’s payout ratio is 25.40%.

About Gentex

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.