Gentex (NASDAQ:GNTX) Given New $28.00 Price Target at UBS Group

Gentex (NASDAQ:GNTX) had its price target raised by UBS Group from $23.00 to $28.00 in a research note published on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the auto parts company’s stock.

A number of other analysts have also commented on GNTX. The Goldman Sachs Group reiterated a “neutral” rating on shares of Gentex in a research report on Friday, July 11th. B. Riley lifted their price objective on Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday. Industrial Alliance Securities set a $25.00 price objective on Gentex in a research report on Friday, July 11th. Robert W. Baird lifted their price objective on Gentex from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Baird R W lowered Gentex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Gentex currently has an average rating of “Hold” and a consensus price target of $29.22.

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $27.92 on Monday. Gentex has a twelve month low of $20.28 and a twelve month high of $31.75. The firm has a market cap of $6.28 billion, a PE ratio of 15.77 and a beta of 0.81. The business has a fifty day moving average of $22.47 and a 200-day moving average of $23.46.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. Gentex had a return on equity of 16.86% and a net margin of 16.82%. The company had revenue of $657.86 million during the quarter, compared to analyst estimates of $591.94 million. During the same period last year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, analysts anticipate that Gentex will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date was Wednesday, July 9th. Gentex’s dividend payout ratio is 27.12%.

Gentex declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 16th that permits the company to repurchase 40,000,000 outstanding shares. This repurchase authorization permits the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the sale, the director directly owned 5,939 shares of the company’s stock, valued at approximately $135,824.93. This represents a 38.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.45% of the company’s stock.

Institutional Trading of Gentex

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC boosted its stake in Gentex by 1,471.0% in the first quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company’s stock valued at $25,000 after buying an additional 1,015 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Gentex by 85.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company’s stock valued at $28,000 after buying an additional 563 shares in the last quarter. Brooklyn Investment Group boosted its stake in Gentex by 305.7% in the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock valued at $28,000 after buying an additional 917 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in Gentex by 208.2% in the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock valued at $38,000 after buying an additional 1,093 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Gentex in the first quarter valued at about $45,000. 86.76% of the stock is owned by institutional investors and hedge funds.

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.