Gentex Corporation (GNTX) Receives $21.58 Consensus PT from Brokerages
Gentex Corporation (NASDAQ:GNTX) has received an average rating of “Hold” from the ten research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $21.58.
A number of equities research analysts recently weighed in on the stock. Wellington Shields lowered shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. Zacks Investment Research lowered shares of Gentex Corporation from a “hold” rating to a “sell” rating in a report on Monday, June 26th. BidaskClub raised shares of Gentex Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Robert W. Baird raised shares of Gentex Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the company from $17.36 to $22.00 in a report on Thursday, August 24th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $25.00 price target on shares of Gentex Corporation in a report on Monday, July 24th.
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In other Gentex Corporation news, Chairman Fred Bauer sold 239,400 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the completion of the transaction, the chairman now directly owns 5,771,128 shares of the company’s stock, valued at approximately $100,013,648.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GNTX. BlackRock Inc. raised its position in shares of Gentex Corporation by 4.4% in the second quarter. BlackRock Inc. now owns 24,223,258 shares of the auto parts company’s stock valued at $459,513,000 after buying an additional 1,009,789 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Gentex Corporation by 1.6% in the second quarter. Vanguard Group Inc. now owns 23,196,105 shares of the auto parts company’s stock valued at $440,030,000 after buying an additional 358,903 shares in the last quarter. State Street Corp raised its position in shares of Gentex Corporation by 4.6% in the first quarter. State Street Corp now owns 7,765,951 shares of the auto parts company’s stock valued at $165,651,000 after buying an additional 339,317 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Gentex Corporation by 164.3% in the second quarter. Schroder Investment Management Group now owns 6,666,657 shares of the auto parts company’s stock valued at $124,467,000 after buying an additional 4,144,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Gentex Corporation by 22.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,357,501 shares of the auto parts company’s stock valued at $82,659,000 after buying an additional 813,219 shares in the last quarter. 80.86% of the stock is owned by institutional investors.
Gentex Corporation (NASDAQ GNTX) traded up 1.90% during trading on Friday, hitting $18.27. 2,001,689 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $17.57 and its 200 day moving average price is $19.38. The stock has a market cap of $5.22 billion, a P/E ratio of 14.50 and a beta of 1.18. Gentex Corporation has a 12-month low of $16.06 and a 12-month high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.01. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The business had revenue of $443.10 million during the quarter, compared to analyst estimates of $446.36 million. During the same period in the previous year, the company earned $0.30 EPS. Gentex Corporation’s revenue was up 4.6% on a year-over-year basis. Analysts anticipate that Gentex Corporation will post $1.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Friday, October 6th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, October 5th. Gentex Corporation’s payout ratio is 31.50%.
Gentex Corporation declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 23rd that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
About Gentex Corporation
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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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