Gentex Corporation (GNTX) Receives $22.07 Average Target Price from Brokerages
Shares of Gentex Corporation (NASDAQ:GNTX) have received an average rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.79.
GNTX has been the subject of a number of recent research reports. ValuEngine downgraded Gentex Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Robert W. Baird upgraded Gentex Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $17.36 to $22.00 in a research report on Thursday, August 24th. Craig Hallum downgraded Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Monday, July 24th. BMO Capital Markets restated an “outperform” rating and issued a $22.00 target price (down previously from $25.00) on shares of Gentex Corporation in a research report on Monday, July 24th. Finally, BidaskClub downgraded Gentex Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th.
In related news, Chairman Fred Bauer sold 239,400 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the completion of the transaction, the chairman now owns 5,771,128 shares in the company, valued at $100,013,648.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kevin C. Nash sold 4,320 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total value of $85,104.00. Following the transaction, the insider now owns 30,732 shares of the company’s stock, valued at approximately $605,420.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,720 shares of company stock valued at $4,391,506. 2.50% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Gentex Corporation by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after acquiring an additional 368 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Gentex Corporation by 11.4% during the first quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock valued at $181,000 after acquiring an additional 870 shares in the last quarter. HPM Partners LLC bought a new position in shares of Gentex Corporation during the second quarter valued at approximately $339,000. Sheaff Brock Investment Advisors LLC bought a new position in shares of Gentex Corporation during the second quarter valued at approximately $194,000. Finally, LVM Capital Management Ltd. MI bought a new position in shares of Gentex Corporation during the second quarter valued at approximately $194,000. Institutional investors own 80.78% of the company’s stock.
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Shares of Gentex Corporation (NASDAQ:GNTX) traded up 0.59% on Friday, reaching $20.46. 1,626,399 shares of the company were exchanged. The stock’s 50-day moving average is $19.28 and its 200 day moving average is $18.97. Gentex Corporation has a 12-month low of $16.06 and a 12-month high of $22.12. The firm has a market capitalization of $5.84 billion, a PE ratio of 16.24 and a beta of 1.18.
Gentex Corporation (NASDAQ:GNTX) last released its earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.01). The firm had revenue of $443.10 million during the quarter, compared to the consensus estimate of $446.36 million. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, analysts forecast that Gentex Corporation will post $1.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 annualized dividend and a yield of 1.96%. Gentex Corporation’s payout ratio is currently 31.50%.
Gentex Corporation announced that its Board of Directors has authorized a stock buyback plan on Wednesday, August 23rd that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
About Gentex Corporation
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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