B. Riley Cuts Gentex (NASDAQ:GNTX) Price Target to $28.00

Gentex (NASDAQ:GNTX) had its price target decreased by B. Riley from $32.00 to $28.00 in a research report report published on Monday,Benzinga reports. B. Riley currently has a buy rating on the auto parts company’s stock.

A number of other research firms have also weighed in on GNTX. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Thursday, January 22nd. UBS Group reaffirmed a “neutral” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a research report on Monday, October 6th. Robert W. Baird set a $26.00 price objective on Gentex in a research note on Wednesday, January 14th. JPMorgan Chase & Co. upped their target price on Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Finally, The Goldman Sachs Group set a $27.00 target price on Gentex and gave the stock a “neutral” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.71.

Gentex Stock Performance

Gentex stock opened at $24.86 on Monday. The business’s 50-day simple moving average is $23.64 and its two-hundred day simple moving average is $25.29. The company has a market cap of $5.44 billion, a PE ratio of 14.29 and a beta of 0.78. Gentex has a fifty-two week low of $20.28 and a fifty-two week high of $29.38.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 30th. The auto parts company reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $644.40 million during the quarter, compared to the consensus estimate of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The company’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. As a group, analysts predict that Gentex will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 21st. Investors of record on Wednesday, January 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, January 7th. Gentex’s dividend payout ratio is 27.59%.

Institutional Investors Weigh In On Gentex

Several large investors have recently bought and sold shares of the company. Addison Advisors LLC acquired a new stake in shares of Gentex in the second quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Gentex in the 3rd quarter valued at $38,000. Clearstead Advisors LLC boosted its stake in Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 922 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Gentex by 2,420.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after buying an additional 1,985 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in shares of Gentex in the third quarter valued at about $65,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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).