Gentex Corporation (NASDAQ:GNTX) Receives Average Recommendation of “Hold” from Analysts

Shares of Gentex Corporation (NASDAQ:GNTX) have been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $26.7143.

GNTX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. B. Riley Financial reduced their price objective on shares of Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. UBS Group set a $25.00 target price on shares of Gentex in a research report on Monday, February 2nd. Robert W. Baird set a $26.00 price target on shares of Gentex in a research report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a report on Thursday, January 22nd.

Gentex Stock Performance

Shares of Gentex stock opened at $23.74 on Tuesday. The firm has a 50-day simple moving average of $23.72 and a two-hundred day simple moving average of $25.31. Gentex has a fifty-two week low of $20.28 and a fifty-two week high of $29.38. The company has a market cap of $5.20 billion, a P/E ratio of 13.64 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 earnings per share for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $644.40 million during the quarter, compared to analyst estimates of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.Gentex’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. Equities research analysts forecast that Gentex will post 2.04 EPS for the current year.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Wednesday, January 7th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. Gentex’s payout ratio is currently 27.59%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearstead Advisors LLC raised its position in shares of Gentex by 21.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after buying an additional 437 shares during the last quarter. CWM LLC grew its stake in Gentex by 5.1% during the 3rd quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock valued at $273,000 after acquiring an additional 467 shares in the last quarter. Arizona State Retirement System raised its holdings in Gentex by 0.7% in the 3rd quarter. Arizona State Retirement System now owns 66,519 shares of the auto parts company’s stock valued at $1,882,000 after acquiring an additional 487 shares during the last quarter. Orion Porfolio Solutions LLC lifted its stake in Gentex by 4.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock worth $286,000 after purchasing an additional 562 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Gentex by 0.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 139,315 shares of the auto parts company’s stock worth $3,064,000 after purchasing an additional 614 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

About Gentex

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).