Gentex Co. (NASDAQ:GNTX) Receives Average Rating of “Hold” from Analysts

Gentex Co. (NASDAQ:GNTX) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $24.17.

Several analysts recently commented on GNTX shares. BidaskClub upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research report on Tuesday. B. Riley set a $29.00 price target on shares of Gentex and gave the company a “buy” rating in a research report on Friday, July 19th. ValuEngine lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday. Longbow Research reiterated a “hold” rating on shares of Gentex in a research report on Sunday, July 7th. Finally, Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating and set a $28.00 target price on the stock in a research report on Tuesday, July 23rd.

GNTX stock traded up $0.15 during midday trading on Friday, hitting $27.04. 1,416,033 shares of the stock traded hands, compared to its average volume of 1,940,871. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 3.26 and a beta of 1.22. The company’s fifty day moving average is $24.87. Gentex has a 1-year low of $17.80 and a 1-year high of $27.94.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 19th. The auto parts company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $468.71 million for the quarter, compared to analyst estimates of $462.65 million. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. As a group, equities research analysts forecast that Gentex will post 1.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were given a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.46 annualized dividend and a dividend yield of 1.70%. Gentex’s dividend payout ratio (DPR) is 28.40%.

In other news, insider Steven R. Downing sold 3,810 shares of Gentex stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $25.32, for a total value of $96,469.20. Following the sale, the insider now owns 124,078 shares in the company, valued at $3,141,654.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary F. Goode sold 2,586 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $27.60, for a total transaction of $71,373.60. Following the transaction, the director now owns 22,989 shares in the company, valued at $634,496.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,394 shares of company stock worth $937,122. Company insiders own 0.37% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV acquired a new position in Gentex during the first quarter worth about $27,000. Bremer Bank National Association acquired a new position in Gentex during the first quarter worth about $29,000. Icon Wealth Partners LLC acquired a new position in Gentex during the first quarter worth about $31,000. Carroll Financial Associates Inc. boosted its position in Gentex by 159.1% during the second quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 789 shares during the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new position in Gentex during the first quarter worth about $33,000. Hedge funds and other institutional investors own 82.74% of the company’s stock.

About Gentex

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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Analyst Recommendations for Gentex (NASDAQ:GNTX)

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