Gentex Corporation (NASDAQ:GNTX) Given Average Rating of “Hold” by Brokerages

Gentex Corporation (NASDAQ:GNTX) has been given an average recommendation of “Hold” by the nine research firms that are currently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $28.2857.

GNTX has been the subject of several research analyst reports. B. Riley lifted their target price on Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $27.00 target price on Gentex and gave the stock a “neutral” rating in a research report on Monday, October 27th. Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Industrial Alliance Securities set a $25.00 target price on Gentex in a research report on Friday, July 11th.

Hedge Funds Weigh In On Gentex

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in Gentex by 5.1% in the third quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock valued at $273,000 after purchasing an additional 467 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Gentex by 4.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 11,875 shares of the auto parts company’s stock valued at $277,000 after purchasing an additional 521 shares during the last quarter. Orion Porfolio Solutions LLC grew its stake in Gentex by 4.5% in the second quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock valued at $286,000 after purchasing an additional 562 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew 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 purchasing an additional 563 shares during the last quarter. Finally, State of Michigan Retirement System grew its stake in Gentex by 1.1% in the first quarter. State of Michigan Retirement System now owns 54,440 shares of the auto parts company’s stock valued at $1,268,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 0.5%

Shares of GNTX opened at $23.45 on Friday. The company has a market cap of $5.15 billion, a PE ratio of 13.79 and a beta of 0.84. The business has a fifty day moving average of $27.18 and a 200 day moving average of $24.65. Gentex has a 52-week low of $20.28 and a 52-week high of $31.41.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The company had revenue of $655.24 million during the quarter, compared to the consensus estimate of $661.10 million. Gentex had a return on equity of 15.86% and a net margin of 15.61%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. Gentex has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Gentex will post 2.04 earnings per share for the current fiscal year.

Gentex declared that its board has initiated a stock repurchase plan on Wednesday, July 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, October 8th. Gentex’s payout ratio is 28.24%.

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.