Gentex Corporation (NASDAQ:GNTX) Receives $28.29 Consensus Target Price from Analysts

Gentex Corporation (NASDAQ:GNTX) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat.com 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 1 year price objective among brokers that have issued ratings on the stock in the last year is $28.2857.

Several research firms have recently commented on GNTX. The Goldman Sachs Group set a $27.00 price target on shares of Gentex and gave the company a “neutral” rating in a report on Monday, October 27th. UBS Group reaffirmed a “neutral” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research report on Monday, October 6th. Zacks Research downgraded Gentex from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. JPMorgan Chase & Co. increased their price objective on shares of Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Finally, Robert W. Baird set a $29.00 price objective on Gentex in a research report on Monday, October 27th.

Gentex Price Performance

NASDAQ GNTX opened at $23.47 on Monday. Gentex has a 1-year low of $20.28 and a 1-year high of $29.52. The business’s fifty day moving average price is $23.46 and its 200-day moving average price is $25.02. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 13.81 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Gentex had a net margin of 15.61% and a return on equity of 15.86%. The business had revenue of $570.32 million during the quarter, compared to analysts’ expectations of $661.10 million. During the same period last year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that Gentex will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, January 7th. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. Gentex’s dividend payout ratio (DPR) is presently 28.24%.

Hedge Funds Weigh In On Gentex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNTX. Addison Advisors LLC purchased a new position in Gentex during the second quarter worth about $25,000. Brooklyn Investment Group raised its stake in Gentex by 305.7% during the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company’s stock worth $28,000 after acquiring an additional 917 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Gentex in the 3rd quarter valued at about $38,000. State of Wyoming acquired a new stake in shares of Gentex in the first quarter valued at approximately $45,000. Finally, Steph & Co. purchased a new position in Gentex during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

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).