Gentex Corporation (NASDAQ:GNTX) Stock Now Rated “Hold” by Sell-Side Analysts

by · The Cerbat Gem

Shares of Gentex Corporation (NASDAQ:GNTX – Get Free Report) have been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $26.80.

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

Get Our Latest Stock Report on Gentex

Hedge Funds Weigh In On Gentex

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. XXEC Inc. acquired a new position in Gentex in the second quarter valued at about $7,705,220,000. BlackRock Inc. bought a new position in shares of Gentex during the 2nd quarter valued at about $550,287,000. Caisse de depot et placement du Quebec bought a new position in shares of Gentex during the 2nd quarter valued at about $79,924,000. Norges Bank acquired a new position in shares of Gentex in the 4th quarter valued at approximately $52,767,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Gentex in the 2nd quarter valued at approximately $52,004,000. 86.76% of the stock is owned by institutional investors.

Gentex Stock Performance

GNTX opened at $22.58 on Wednesday. The company has a fifty day moving average price of $23.21 and a two-hundred day moving average price of $23.31. The firm has a market capitalization of $4.81 billion, a PE ratio of 11.95 and a beta of 0.80. Gentex has a 52 week low of $20.48 and a 52 week high of $29.01.

Gentex (NASDAQ:GNTX – Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The company had revenue of $651.30 million for the quarter, compared to the consensus estimate of $669.65 million. During the same quarter in the prior year, the business posted $0.43 EPS. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that Gentex will post 2.07 EPS for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 7th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, October 7th. This represents a $0.48 annualized dividend and a yield of 2.1%. Gentex’s dividend payout ratio (DPR) is 25.40%.

About Gentex

(Get Free Report)

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.

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