Analysts Set Gentex Co. (NASDAQ:GNTX) PT at $37.83

Shares of Gentex Co. (NASDAQ:GNTX) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $37.83.

A number of research firms have recently issued reports on GNTX. The Goldman Sachs Group raised their price objective on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. StockNews.com cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. B. Riley lifted their target price on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Guggenheim increased their price target on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th.

Gentex Stock Performance

NASDAQ:GNTX opened at $34.13 on Wednesday. The stock’s 50-day simple moving average is $35.59 and its 200 day simple moving average is $33.16. Gentex has a 52-week low of $25.86 and a 52-week high of $37.58. The company has a market cap of $7.89 billion, a P/E ratio of 18.06, a P/E/G ratio of 0.75 and a beta of 0.98.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.01). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The firm had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. During the same period last year, the company posted $0.42 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that Gentex will post 2.11 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Friday, April 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. Gentex’s payout ratio is 25.40%.

Insider Buying and Selling

In related news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $33.04, for a total transaction of $446,040.00. Following the completion of the sale, the chief financial officer now directly owns 44,321 shares in the company, valued at approximately $1,464,365.84. The sale was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is owned by company insiders.

Institutional Trading of Gentex

A number of hedge funds have recently made changes to their positions in the company. Neo Ivy Capital Management acquired a new stake in Gentex during the 4th quarter valued at approximately $29,000. National Bank of Canada FI lifted its holdings in Gentex by 159.1% in the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after buying an additional 571 shares during the period. VisionPoint Advisory Group LLC boosted its position in Gentex by 123.6% during the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after acquiring an additional 665 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Gentex during the 4th quarter worth about $46,000. Finally, Global Retirement Partners LLC raised its position in shares of Gentex by 371.3% in the 4th quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock worth $89,000 after acquiring an additional 2,157 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

About Gentex

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.