Gentex Co. (NASDAQ:GNTX) Given Average Rating of “Moderate Buy” by Brokerages

Gentex Co. (NASDAQ:GNTX) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $37.83.

A number of equities research analysts recently issued reports on the stock. Guggenheim boosted their target price on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. B. Riley boosted their target price on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, StockNews.com upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Sunday.

Insiders Place Their Bets

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $34.46, for a total transaction of $162,513.36. Following the sale, the director now directly owns 3,764 shares of the company’s stock, valued at $129,707.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gentex

Several institutional investors have recently modified their holdings of GNTX. Neo Ivy Capital Management bought a new position in shares of Gentex during the 4th quarter valued at about $29,000. National Bank of Canada FI boosted its position in shares of Gentex by 159.1% during the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 571 shares in the last quarter. VisionPoint Advisory Group LLC boosted its position in shares of Gentex by 123.6% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after purchasing an additional 665 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Gentex during the 4th quarter valued at about $46,000. Finally, LRI Investments LLC purchased a new stake in Gentex during the first quarter valued at about $93,000. Institutional investors own 86.76% of the company’s stock.

Gentex Trading Down 0.4 %

Shares of GNTX opened at $34.09 on Thursday. The stock has a market cap of $7.88 billion, a P/E ratio of 18.04, a PEG ratio of 0.96 and a beta of 0.97. The company has a 50-day moving average of $34.40 and a two-hundred day moving average of $34.20. Gentex has a 12-month low of $27.04 and a 12-month high of $37.58.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $590.23 million during the quarter, compared to analyst estimates of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. As a group, analysts forecast that Gentex will post 2.11 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, July 5th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. Gentex’s dividend payout ratio (DPR) is 25.40%.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.