Gentex Corporation (NASDAQ:GNTX) Receives Consensus Rating of “Hold” from Analysts

Gentex Corporation (NASDAQ:GNTX) has earned an average recommendation of “Hold” from the nine analysts that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.2857.

A number of equities analysts have recently issued reports on GNTX shares. Robert W. Baird set a $29.00 target price on shares of Gentex in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. Zacks Research downgraded Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. JPMorgan Chase & Co. increased their price objective on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Finally, 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.

Gentex Stock Performance

Shares of GNTX stock opened at $23.57 on Monday. Gentex has a 52 week low of $20.28 and a 52 week high of $29.53. The stock has a market capitalization of $5.16 billion, a PE ratio of 13.86 and a beta of 0.78. The stock’s fifty day moving average is $23.72 and its 200-day moving average is $24.96.

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 the consensus estimate of $0.47 by ($0.01). Gentex had a return on equity of 15.86% and a net margin of 15.61%.The company had revenue of $570.32 million for the quarter, compared to analyst estimates of $661.10 million. During the same quarter last year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. As a group, analysts forecast that Gentex will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s dividend payout ratio is presently 28.24%.

Institutional Investors Weigh In On Gentex

A number of institutional investors and hedge funds have recently modified their holdings of GNTX. Hudson Bay Capital Management LP bought a new position in Gentex in the third quarter valued at approximately $3,613,000. Swiss Life Asset Management Ltd acquired a new position in shares of Gentex during the 3rd quarter worth about $301,000. CIBC Private Wealth Group LLC increased its stake in shares of Gentex by 2,420.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 1,985 shares during the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Gentex in the 3rd quarter valued at about $202,000. Finally, Danske Bank A S acquired a new stake in shares of Gentex in the 3rd quarter valued at approximately $11,149,000. 86.76% of the stock is owned by institutional investors.

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).