Traders purchased shares of Gentex Co. (NASDAQ:GNTX) on weakness during trading hours on Wednesday following a dissappointing earnings announcement. $24.66 million flowed into the stock on the tick-up and $18.72 million flowed out of the stock on the tick-down, for a money net flow of $5.94 million into the stock. Of all companies tracked, Gentex had the 31st highest net in-flow for the day. Gentex traded down ($0.78) for the day and closed at $22.25The auto parts company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Gentex had a net margin of 25.11% and a return on equity of 21.83%. The company had revenue of $453.40 million for the quarter, compared to the consensus estimate of $477.41 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Gentex’s revenue for the quarter was down 1.3% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 23rd. Investors of record on Wednesday, January 9th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, January 8th. Gentex’s dividend payout ratio is currently 34.38%.
A number of equities research analysts recently weighed in on the stock. Wells Fargo & Co restated a “buy” rating on shares of Gentex in a research note on Wednesday. Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. BidaskClub raised Gentex from a “hold” rating to a “buy” rating in a report on Saturday, January 12th. KeyCorp started coverage on Gentex in a report on Monday, December 10th. They set a “sector weight” rating on the stock. Finally, Jefferies Financial Group started coverage on Gentex in a report on Tuesday, December 4th. They set a “hold” rating and a $24.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.50.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Gentex by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 24,110,056 shares of the auto parts company’s stock valued at $517,401,000 after purchasing an additional 272,847 shares during the period. Vanguard Group Inc increased its holdings in Gentex by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 24,110,056 shares of the auto parts company’s stock worth $517,401,000 after purchasing an additional 272,847 shares in the last quarter. FMR LLC increased its holdings in Gentex by 22.6% during the 2nd quarter. FMR LLC now owns 10,889,141 shares of the auto parts company’s stock worth $250,668,000 after purchasing an additional 2,008,953 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Gentex by 8.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,835,625 shares of the auto parts company’s stock worth $125,230,000 after purchasing an additional 467,548 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Gentex by 24.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock worth $106,585,000 after purchasing an additional 976,219 shares in the last quarter. 85.61% of the stock is currently owned by hedge funds and other institutional investors.
The firm has a market capitalization of $6.04 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.17 and a beta of 1.11.
TRADEMARK VIOLATION NOTICE: This piece of content was published by Ticker Report and is the property of of Ticker Report. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.tickerreport.com/banking-finance/4116516/traders-buy-gentex-gntx-on-weakness-on-disappointing-earnings.html.
Gentex Company Profile (NASDAQ:GNTX)
Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter.