Gentex (NASDAQ:GNTX) Price Target Lowered to $28.00 at B. Riley

Gentex (NASDAQ:GNTX) had its price objective trimmed by B. Riley from $32.00 to $28.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the auto parts company’s stock.

Several other brokerages also recently commented on GNTX. UBS Group reissued a “neutral” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research note on Monday, October 6th. The Goldman Sachs Group set a $27.00 price target on Gentex and gave the company a “neutral” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. upped their target price on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Robert W. Baird set a $26.00 price target on shares of Gentex in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Gentex has an average rating of “Hold” and an average target price of $26.71.

Gentex Stock Up 3.3%

NASDAQ GNTX opened at $23.76 on Monday. Gentex has a 52 week low of $20.28 and a 52 week high of $29.38. The business has a 50 day moving average price of $23.57 and a 200-day moving average price of $25.28. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 13.66 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $644.40 million during the quarter, compared to analyst estimates of $650.90 million. Gentex had a net margin of 15.19% and a return on equity of 16.05%. Gentex’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. On average, equities research analysts anticipate that Gentex will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s dividend payout ratio (DPR) is presently 27.59%.

Institutional Trading of Gentex

Large investors have recently bought and sold shares of the company. CWM LLC grew its stake in shares of Gentex by 5.1% during the 3rd quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock worth $273,000 after acquiring an additional 467 shares during the period. Arizona State Retirement System lifted its position in shares of Gentex by 0.7% during the third quarter. Arizona State Retirement System now owns 66,519 shares of the auto parts company’s stock worth $1,882,000 after acquiring an additional 487 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Gentex by 4.5% during the second quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock worth $286,000 after acquiring an additional 562 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Gentex by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 139,315 shares of the auto parts company’s stock worth $3,064,000 after acquiring an additional 614 shares during the period. Finally, Steph & Co. raised its stake in shares of Gentex by 30.5% during the 3rd quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock valued at $76,000 after purchasing an additional 627 shares during the period. 86.76% of the stock is owned by hedge funds and other 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).