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

Shares of Gentex Corporation (NASDAQ:GNTX) have earned an average rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $26.7143.

GNTX has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. The Goldman Sachs Group set a $27.00 target price on Gentex and gave the stock a “neutral” rating in a research report on Monday, October 27th. B. Riley Financial reduced their price target on shares of Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, February 2nd. JPMorgan Chase & Co. raised their price target on shares of Gentex from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, October 20th. Finally, UBS Group set a $25.00 price objective on Gentex in a research report on Monday, February 2nd.

Institutional Trading of Gentex

A number of hedge funds and other institutional investors have recently made changes to their positions in GNTX. Addison Advisors LLC acquired a new position in shares of Gentex during the second quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Gentex during the 3rd quarter valued at $38,000. Employees Retirement System of Texas acquired a new position in shares of Gentex during the 4th quarter valued at $56,000. Clearstead Advisors LLC increased its position in shares of Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 922 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Gentex by 2,420.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after buying an additional 1,985 shares in the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Performance

NASDAQ GNTX opened at $24.89 on Tuesday. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 14.30 and a beta of 0.78. Gentex has a one year low of $20.28 and a one year high of $29.38. The company’s 50 day moving average price is $23.83 and its 200 day moving average price is $25.24.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, January 30th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The company had revenue of $644.40 million during the quarter, compared to the consensus estimate of $650.90 million. During the same period in the previous year, the firm earned $0.39 earnings per share. Gentex’s revenue for the quarter was up 19.0% on a year-over-year basis. Sell-side analysts forecast that Gentex will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $0.48 annualized dividend and a yield of 1.9%. Gentex’s dividend payout ratio is presently 27.59%.

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).