Gentex Corporation (NASDAQ:GNTX) Receives $26.83 Consensus Target Price from Brokerages

Shares of Gentex Corporation (NASDAQ:GNTX) have been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $26.8333.

Several equities research analysts recently commented on the company. UBS Group set a $26.00 target price on Gentex in a research report on Sunday, April 26th. Freedom Capital raised Gentex to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Robert W. Baird raised their price objective on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th.

Insider Activity

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $23.31, for a total value of $112,237.65. Following the transaction, the director owned 81,443 shares of the company’s stock, valued at approximately $1,898,436.33. The trade was a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian C. Walker sold 5,939 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the transaction, the director owned 24,205 shares in the company, valued at approximately $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,693 shares of company stock worth $385,194 over the last quarter. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Anchor Investment Management LLC bought a new position in shares of Gentex in the 1st quarter worth about $26,000. Clearstead Advisors LLC boosted its stake in Gentex by 82.3% during the third quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Gentex by 2,420.7% in the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 1,985 shares during the period. Arax Advisory Partners purchased a new stake in Gentex in the fourth quarter worth about $52,000. Finally, AdvisorNet Financial Inc increased its stake in shares of Gentex by 2,299.0% during the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after purchasing an additional 2,299 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Price Performance

Shares of Gentex stock opened at $25.95 on Monday. Gentex has a twelve month low of $20.48 and a twelve month high of $29.38. The company has a 50-day simple moving average of $23.70 and a two-hundred day simple moving average of $23.36. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 14.58 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The company had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. On average, sell-side analysts anticipate that Gentex will post 1.96 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. Gentex’s dividend payout ratio is 26.97%.

About Gentex

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).