Gentex Corp. (GNTX) Stock Rating Reaffirmed by FBR & Co
Gentex Corp. (NASDAQ:GNTX)‘s stock had its “outperform” rating reiterated by FBR & Co in a report issued on Thursday.
Several other analysts have also weighed in on the company. Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Gentex Corp. in a research note on Tuesday, September 13th. Zacks Investment Research raised Gentex Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, July 27th.
Shares of Gentex Corp. (NASDAQ:GNTX) opened at 16.74 on Thursday. The stock has a 50 day moving average of $17.25 and a 200 day moving average of $16.83. The firm has a market cap of $4.80 billion, a P/E ratio of 13.94 and a beta of 0.84. Gentex Corp. has a 52 week low of $12.93 and a 52 week high of $18.30.
Gentex Corp. (NASDAQ:GNTX) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $429.60 million for the quarter, compared to analyst estimates of $428.43 million. Gentex Corp. had a return on equity of 19.53% and a net margin of 20.86%. Gentex Corp.’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. Analysts anticipate that Gentex Corp. will post $1.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Wednesday, October 5th. Gentex Corp.’s payout ratio is 30.00%.
In other news, insider Kevin C. Nash sold 6,210 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $16.68, for a total transaction of $103,582.80. Following the completion of the transaction, the insider now directly owns 31,830 shares in the company, valued at $530,924.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Fred Bauer sold 696,000 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $18.03, for a total value of $12,548,880.00. Following the transaction, the chairman now owns 6,011,728 shares of the company’s stock, valued at $108,391,455.84. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Gentex Corp. by 6.7% in the first quarter. Royal Bank of Canada now owns 1,480,058 shares of the company’s stock worth $23,222,000 after buying an additional 92,876 shares during the period. Arizona State Retirement System increased its position in shares of Gentex Corp. by 3.7% in the first quarter. Arizona State Retirement System now owns 150,491 shares of the company’s stock worth $2,361,000 after buying an additional 5,300 shares during the period. Babson Capital Management LLC increased its position in shares of Gentex Corp. by 100.8% in the first quarter. Babson Capital Management LLC now owns 44,420 shares of the company’s stock worth $697,000 after buying an additional 22,300 shares during the period. LPL Financial LLC increased its position in shares of Gentex Corp. by 111.7% in the first quarter. LPL Financial LLC now owns 82,526 shares of the company’s stock worth $1,248,000 after buying an additional 43,536 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Gentex Corp. by 2.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 268,713 shares of the company’s stock worth $4,216,000 after buying an additional 5,160 shares during the period. Institutional investors own 85.45% of the company’s stock.
Gentex Corp. Company Profile
Gentex Corporation designs and manufactures automatic-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. The Company’s segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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