Gentex (NASDAQ:GNTX) Stock Gets Price Target Trim from Robert W. Baird

Gentex (NASDAQ:GNTX) had its price target trimmed by Robert W. Baird from $25.00 to $24.00 in a report issued on Monday,Benzinga reports. The firm currently has a neutral rating on the auto parts company’s stock.

Several other research firms have also issued reports on GNTX. The Goldman Sachs Group lowered shares of Gentex from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $23.00 to $20.00 in a research report on Tuesday, October 6th. JPMorgan Chase & Co. reduced their target price on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. UBS Group decreased their price target on shares of Gentex from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Freedom Capital downgraded Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings lowered Gentex from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.08.

Gentex Price Performance

NASDAQ GNTX opened at $20.07 on Monday. Gentex has a 1-year low of $19.75 and a 1-year high of $26.48. The firm has a market capitalization of $4.27 billion, a P/E ratio of 10.79 and a beta of 0.86. The business’s 50-day simple moving average is $22.06 and its 200-day simple moving average is $23.14.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 23rd. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Gentex had a return on equity of 16.67% and a net margin of 15.15%. The business had revenue of $647.71 million for the quarter, compared to analyst estimates of $669.69 million. During the same period last year, the company posted $0.46 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts expect that Gentex will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.4%. Gentex’s payout ratio is presently 25.81%.

Institutional Investors Weigh In On Gentex

A number of institutional investors have recently modified their holdings of GNTX. XXEC Inc. bought a new position in Gentex during the 2nd quarter worth approximately $7,705,220,000. BlackRock Inc. acquired a new position in shares of Gentex in the 2nd quarter worth approximately $550,287,000. Caisse de depot et placement du Quebec acquired a new position in shares of Gentex in the 2nd quarter worth approximately $79,924,000. Bank of New York Mellon Corp bought a new stake in shares of Gentex in the 2nd quarter valued at approximately $52,004,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Gentex in the 2nd quarter valued at approximately $47,045,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Company Profile

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.