Gentex Corporation (NASDAQ:GNTX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Gentex Corporation (NASDAQ:GNTX) have been given an average recommendation of “Hold” by the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $28.2857.

Several analysts have issued reports on GNTX shares. Zacks Research downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. Industrial Alliance Securities set a $25.00 price objective on Gentex in a research report on Friday, July 11th. Robert W. Baird set a $29.00 target price on Gentex in a report on Monday, October 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its stake in shares of Gentex by 487.7% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,447,651 shares of the auto parts company’s stock worth $80,330,000 after purchasing an additional 2,860,969 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Gentex by 142.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,589,585 shares of the auto parts company’s stock valued at $106,937,000 after acquiring an additional 2,695,117 shares in the last quarter. American Century Companies Inc. raised its position in Gentex by 60.5% during the second quarter. American Century Companies Inc. now owns 6,611,258 shares of the auto parts company’s stock valued at $145,382,000 after acquiring an additional 2,492,026 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Gentex by 46.2% in the first quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company’s stock valued at $178,797,000 after acquiring an additional 2,424,471 shares during the last quarter. Finally, Norges Bank bought a new stake in Gentex in the second quarter worth approximately $51,815,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 2.3%

NASDAQ GNTX opened at $23.06 on Friday. Gentex has a 1 year low of $20.28 and a 1 year high of $31.41. The stock’s 50-day moving average price is $26.78 and its two-hundred day moving average price is $24.68. The company has a market cap of $5.06 billion, a PE ratio of 13.56 and a beta of 0.87.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $570.32 million during the quarter, compared to analysts’ expectations of $661.10 million. Gentex had a return on equity of 15.86% and a net margin of 15.61%.The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. Gentex has set its FY 2025 guidance at EPS. Research analysts forecast that Gentex will post 2.04 EPS for the current fiscal year.

Gentex declared that its board has authorized a share buyback program on Wednesday, July 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, October 8th. Gentex’s payout ratio is currently 28.24%.

Gentex Company Profile

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.