Gentex Co. (NASDAQ:GNTX) Receives Consensus Rating of “Moderate Buy” from Analysts

Gentex Co. (NASDAQ:GNTX) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $37.83.

Several research analysts have recently issued reports on the company. Guggenheim upped their price objective on Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. The Goldman Sachs Group upped their target price on Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. B. Riley upped their target price on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a research report on Thursday.

Gentex Stock Performance

NASDAQ:GNTX opened at $34.36 on Friday. The stock has a 50-day simple moving average of $35.01 and a 200-day simple moving average of $33.71. The stock has a market cap of $7.94 billion, a P/E ratio of 18.18, a P/E/G ratio of 0.95 and a beta of 0.98. Gentex has a 1 year low of $25.86 and a 1 year high of $37.58.

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

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date was Thursday, April 4th. Gentex’s dividend payout ratio is presently 25.40%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $34.46, for a total transaction of $162,513.36. Following the completion of the transaction, the director now directly owns 3,764 shares of the company’s stock, valued at approximately $129,707.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Gentex

A number of institutional investors and hedge funds have recently modified their holdings of GNTX. Wellington Management Group LLP grew its holdings in Gentex by 95.4% during the 3rd quarter. Wellington Management Group LLP now owns 6,823,022 shares of the auto parts company’s stock valued at $222,021,000 after buying an additional 3,330,502 shares during the last quarter. Norges Bank acquired a new stake in Gentex during the 4th quarter valued at $89,843,000. First Trust Advisors LP grew its holdings in Gentex by 301.6% during the 4th quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock valued at $83,896,000 after buying an additional 1,929,150 shares during the last quarter. TD Asset Management Inc grew its holdings in Gentex by 41.2% during the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after buying an additional 1,363,898 shares during the last quarter. Finally, Motley Fool Asset Management LLC grew its holdings in Gentex by 287.7% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock valued at $43,494,000 after buying an additional 893,552 shares during the last quarter. Institutional investors and hedge funds 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.