Analysts Set Gentex Corporation (NASDAQ:GNTX) PT at $26.80

Gentex Corporation (NASDAQ:GNTX) has been given an average rating of “Hold” by the eight brokerages that are currently covering the firm, Marketbeat.com reports. Seven investment 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 analysts that have covered the stock in the last year is $26.80.

A number of research firms have recently weighed in on GNTX. Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings raised shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. UBS Group reissued a “neutral” rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. JPMorgan Chase & Co. lowered their target price on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Finally, Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th.

Hedge Funds Weigh In On Gentex

Several hedge funds have recently bought and sold shares of the company. Anchor Investment Management LLC purchased a new stake in Gentex during the first quarter worth $26,000. AdvisorNet Financial Inc grew its holdings in Gentex by 2,299.0% in the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after purchasing an additional 2,299 shares during the last quarter. Arax Advisory Partners purchased a new position in shares of Gentex in the fourth quarter valued at $52,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Gentex in the second quarter valued at $54,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Gentex during the 4th quarter worth $56,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Trading Down 1.3%

NASDAQ GNTX opened at $22.37 on Friday. The business’s 50 day moving average is $23.97 and its two-hundred day moving average is $23.46. Gentex has a 12-month low of $20.48 and a 12-month high of $29.38. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 11.84 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. The firm had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.Gentex’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. Equities analysts forecast that Gentex will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Wednesday, October 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.1%. Gentex’s payout ratio is 25.40%.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).