Gentex (GNTX) Stock Price Up 5.4%

Shares of Gentex Co. (NASDAQ:GNTX) rose 5.4% during trading on Thursday . The stock traded as high as $22.71 and last traded at $22.66. Approximately 3,187,129 shares were traded during trading, an increase of 23% from the average daily volume of 2,586,329 shares. The stock had previously closed at $21.49.

GNTX has been the subject of several analyst reports. Zacks Investment Research lowered Gentex from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. ValuEngine upgraded Gentex from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Robert W. Baird reduced their target price on Gentex from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, October 23rd. FBR & Co restated a “buy” rating and issued a $25.00 target price on shares of Gentex in a research note on Wednesday, October 18th. Finally, B. Riley restated a “buy” rating on shares of Gentex in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Gentex has an average rating of “Buy” and an average target price of $22.69.

The company has a market capitalization of $6,430.00, a P/E ratio of 17.98, a PEG ratio of 1.63 and a beta of 1.22.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. The company had revenue of $438.63 million during the quarter, compared to analyst estimates of $452.42 million. Gentex had a return on equity of 18.45% and a net margin of 20.80%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. equities research analysts anticipate that Gentex Co. will post 1.27 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, January 4th. Gentex’s dividend payout ratio is currently 31.75%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Citizens Bank & Trust Co. acquired a new stake in Gentex during the 4th quarter worth about $354,000. Aurora Investment Counsel acquired a new stake in Gentex during the 4th quarter worth about $1,414,000. Sterling Capital Management LLC grew its position in Gentex by 4.5% during the 3rd quarter. Sterling Capital Management LLC now owns 4,713,571 shares of the auto parts company’s stock worth $93,329,000 after purchasing an additional 203,025 shares during the period. Griffin Asset Management Inc. acquired a new stake in Gentex during the 3rd quarter worth about $811,000. Finally, California Public Employees Retirement System grew its position in Gentex by 3.3% during the 3rd quarter. California Public Employees Retirement System now owns 596,783 shares of the auto parts company’s stock worth $11,816,000 after purchasing an additional 19,083 shares during the period. 81.72% of the stock is currently owned by institutional investors.

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About Gentex

Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.

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