Robert W. Baird Issues Positive Forecast for Gentex (NASDAQ:GNTX) Stock Price

Gentex (NASDAQ:GNTX) had its price target boosted by Robert W. Baird from $25.00 to $26.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the auto parts company’s stock.

Several other research analysts also recently weighed in on the stock. B. Riley Financial restated a “buy” rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a research note on Monday. Freedom Capital upgraded shares of Gentex to a “strong-buy” rating in a research note on Friday, March 27th. UBS Group set a $26.00 target price on shares of Gentex in a research note on Sunday. JPMorgan Chase & Co. decreased their target price on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, April 23rd. Finally, Wall Street Zen upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gentex currently has a consensus rating of “Hold” and a consensus price target of $26.67.

Gentex Stock Down 0.1%

Gentex stock opened at $23.86 on Monday. Gentex has a 52-week low of $20.48 and a 52-week high of $29.38. The firm has a fifty day moving average of $22.32 and a 200-day moving average of $23.30. The firm has a market capitalization of $5.10 billion, a P/E ratio of 13.40 and a beta of 0.77.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The company had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, research analysts expect that Gentex will post 1.92 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 8th were paid a $0.12 dividend. The ex-dividend date was Wednesday, April 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s dividend payout ratio is 26.97%.

Insider Buying and Selling at Gentex

In other Gentex news, CEO Steven R. Downing sold 35,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the completion of the transaction, the chief executive officer directly owned 211,670 shares of the company’s stock, valued at $5,238,832.50. This trade represents a 14.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin C. Nash sold 11,885 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total transaction of $296,887.30. Following the transaction, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at approximately $1,484,561.40. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,133 shares of company stock worth $1,442,313 in the last ninety days. 0.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Gentex during the 3rd quarter worth $38,000. AdvisorNet Financial Inc grew its holdings in Gentex by 2,299.0% during the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after acquiring an additional 2,299 shares in the last quarter. Arax Advisory Partners acquired a new position in Gentex during the 4th quarter worth $52,000. Employees Retirement System of Texas acquired a new position in Gentex during the 4th quarter worth $56,000. Finally, Clearstead Advisors LLC grew its holdings in Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

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).