Gentex Corporation (NASDAQ:GNTX) Stock Has Average Target Price of $26.80

Gentex Corporation (NASDAQ:GNTX) has received an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $26.80.

GNTX has been the topic of several research analyst reports. UBS Group restated a “neutral” rating and set a $25.00 target price (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. JPMorgan Chase & Co. cut their price target on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Wall Street Zen downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Gentex in a report on Friday, September 18th. Finally, Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th.

Institutional Trading of Gentex

A number of hedge funds and other institutional investors have recently modified their holdings of GNTX. Anchor Investment Management LLC acquired a new position in Gentex during the 1st quarter worth $26,000. AdvisorNet Financial Inc increased its stake in shares of Gentex by 2,299.0% in the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after buying an additional 2,299 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Gentex in the 2nd quarter valued at $54,000. Employees Retirement System of Texas bought a new stake in shares of Gentex during the fourth quarter worth $56,000. Finally, Clearstead Advisors LLC raised its position in shares of Gentex by 21.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 437 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Trading Down 0.9%

Shares of Gentex stock opened at $22.13 on Wednesday. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 11.71 and a beta of 0.80. The firm’s 50-day moving average price is $23.14 and its two-hundred day moving average price is $23.32. Gentex has a 1-year low of $20.48 and a 1-year high of $28.51.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The company had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. Gentex’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Gentex will post 2.07 EPS for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, October 7th. Gentex’s dividend payout ratio is presently 25.40%.

About Gentex

Gentex Corporation is a technology and manufacturing company headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, serving vehicle manufacturers and suppliers in North America, Europe, Asia and other international markets.

Gentex is best known for its automatic-dimming rearview mirrors, which use electrochromic technology to reduce glare from headlights. Its automotive product portfolio also includes camera-based driver-assistance systems, digital rearview mirrors, vehicle display and connectivity technologies, lighting products, and other electronic features designed to support vehicle safety, convenience and visibility.

The company also develops fire-protection products, including smoke detectors and signaling devices for residential, commercial and industrial applications.