Gentex (NASDAQ:GNTX) Stock Gets Price Target Trim from B. Riley Financial

Gentex (NASDAQ:GNTX) had its price target reduced by B. Riley Financial from $29.00 to $25.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the auto parts company’s stock.

A number of other brokerages also recently weighed in on GNTX. JPMorgan Chase & Co. reduced their price target on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. UBS Group set a $21.00 price objective on shares of Gentex and gave the stock a “neutral” rating in a report on Monday. Robert W. Baird cut their price objective on shares of Gentex from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Freedom Capital cut shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Gentex presently has an average rating of “Hold” and an average target price of $23.08.

Gentex Trading Down 0.7%

GNTX opened at $20.07 on Monday. Gentex has a 1-year low of $19.75 and a 1-year high of $26.48. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of 10.79 and a beta of 0.86. The business has a 50 day moving average of $22.06 and a 200-day moving average of $23.14.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 23rd. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). Gentex had a return on equity of 16.67% and a net margin of 15.15%. The company had revenue of $647.71 million during the quarter, compared to analyst estimates of $669.69 million. During the same quarter in the previous year, the business posted $0.46 EPS. The company’s revenue was down 1.1% on a year-over-year basis. Equities analysts predict that Gentex will post 2.04 EPS for the current year.

Gentex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.4%. Gentex’s dividend payout ratio (DPR) is 25.81%.

Hedge Funds Weigh In On Gentex

Institutional investors have recently added to or reduced their stakes in the company. Anchor Investment Management LLC bought a new position in shares of Gentex in the first quarter valued at approximately $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Gentex in the 2nd quarter worth approximately $54,000. North Point Portfolio Managers Corp OH acquired a new position in shares of Gentex in the 3rd quarter worth approximately $55,000. Versant Capital Management Inc grew its position in Gentex by 28.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,698 shares of the auto parts company’s stock worth $68,000 after acquiring an additional 602 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Gentex by 69.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,142 shares of the auto parts company’s stock worth $69,000 after acquiring an additional 1,283 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Gentex Company Profile

Gentex Corporation (NASDAQ:GNTX) is a technology manufacturer headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, along with selected applications in the aerospace and fire-protection markets.

Gentex is best known for its automatic-dimming rearview and side-view mirrors, which use electrochromic technology to reduce glare. Its automotive product portfolio also includes camera-based driver-assistance systems, digital vision and sensing technologies, connected-car products, overhead console systems, and HomeLink universal garage-door and home-control systems.