Analysts Set Gentex Co. (NASDAQ:GNTX) Target Price at $35.13

Gentex Co. (NASDAQ:GNTX) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $35.13.

A number of analysts recently issued reports on GNTX shares. Bank of America lowered their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group lowered their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Robert W. Baird upped their price target on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Guggenheim decreased their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, UBS Group assumed coverage on Gentex in a research note on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock.

Gentex Price Performance

NASDAQ:GNTX opened at $30.59 on Thursday. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.09 and a beta of 0.91. The business has a 50 day simple moving average of $30.13 and a 200-day simple moving average of $31.21. Gentex has a 1 year low of $28.30 and a 1 year high of $37.58.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.57%. Gentex’s payout ratio is 25.67%.

Hedge Funds Weigh In On Gentex

A number of hedge funds and other institutional investors have recently made changes to their positions in GNTX. CWM LLC grew its holdings in Gentex by 7.3% during the 2nd quarter. CWM LLC now owns 10,265 shares of the auto parts company’s stock worth $346,000 after acquiring an additional 695 shares in the last quarter. QRG Capital Management Inc. purchased a new position in Gentex during the second quarter valued at approximately $205,000. SG Americas Securities LLC raised its stake in Gentex by 15.9% in the second quarter. SG Americas Securities LLC now owns 10,124 shares of the auto parts company’s stock worth $341,000 after buying an additional 1,387 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Gentex by 31.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 35,286 shares of the auto parts company’s stock worth $1,189,000 after buying an additional 8,536 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Gentex by 50.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,485 shares of the auto parts company’s stock worth $320,000 after buying an additional 3,187 shares during the period. Institutional investors own 86.76% of the company’s stock.

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.