Brokerages Set Gentex Co. (NASDAQ:GNTX) PT at $37.83

Gentex Co. (NASDAQ:GNTX) has earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $37.83.

A number of equities research analysts recently weighed in on the stock. B. Riley boosted their price objective on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. StockNews.com downgraded Gentex from a “buy” rating to a “hold” rating in a report on Monday, April 29th. JPMorgan Chase & Co. raised their target price on Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. The Goldman Sachs Group boosted their price target on shares of Gentex from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Finally, Guggenheim lifted their price objective on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th.

Insider Buying and Selling at Gentex

In other news, CFO Kevin C. Nash sold 13,500 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now directly owns 44,321 shares in the company, valued at $1,464,365.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Gentex

Several institutional investors have recently modified their holdings of the company. Neo Ivy Capital Management bought a new stake in Gentex in the fourth quarter worth about $29,000. National Bank of Canada FI lifted its stake in Gentex by 159.1% during the fourth quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 571 shares during the last quarter. VisionPoint Advisory Group LLC lifted its stake in Gentex by 123.6% during the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after purchasing an additional 665 shares during the last quarter. GAMMA Investing LLC acquired a new position in Gentex in the fourth quarter worth approximately $46,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Gentex by 371.3% in the fourth quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock valued at $89,000 after buying an additional 2,157 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Stock Performance

Shares of GNTX opened at $34.13 on Wednesday. Gentex has a 52 week low of $25.86 and a 52 week high of $37.58. The firm has a market cap of $7.89 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 0.75 and a beta of 0.98. The stock has a 50 day moving average of $35.55 and a 200-day moving average of $33.21.

Gentex (NASDAQ:GNTX) last announced 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). Gentex had a return on equity of 19.19% and a net margin of 18.77%. The firm had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. During the same quarter last year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Gentex will post 2.11 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, April 5th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. Gentex’s dividend payout ratio is presently 25.40%.

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.