Gentex (NASDAQ:GNTX) Stock Gets Price Target Cut from UBS Group

Gentex (NASDAQ:GNTX) had its price objective trimmed by UBS Group from $25.00 to $24.00 in a report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the auto parts company’s stock.

Several other equities research analysts have also recently issued reports on GNTX. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research note on Friday, September 18th. JPMorgan Chase & Co. dropped their price objective on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, August 10th. The Goldman Sachs Group downgraded Gentex from a “neutral” rating to a “sell” rating and cut their target price for the company from $23.00 to $20.00 in a research report on Tuesday. Freedom Capital lowered Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen cut Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Gentex presently has an average rating of “Hold” and a consensus target price of $25.20.

Gentex Stock Down 0.5%

Shares of Gentex stock opened at $21.04 on Wednesday. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 11.13 and a beta of 0.86. Gentex has a twelve month low of $20.48 and a twelve month high of $26.99. The company has a 50-day simple moving average of $22.82 and a two-hundred day simple moving average of $23.33.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The firm had revenue of $651.30 million for the quarter, compared to analyst estimates of $669.65 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue was down 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Gentex will post 2.06 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Wednesday, October 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, October 7th. Gentex’s dividend payout ratio (DPR) is currently 25.40%.

Hedge Funds Weigh In On Gentex

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE acquired a new stake in Gentex in the second quarter valued at about $29,155,000. MAC Alpha Capital Management LP raised its stake in Gentex by 36.0% during the second quarter. MAC Alpha Capital Management LP now owns 416,657 shares of the auto parts company’s stock worth $10,530,000 after acquiring an additional 110,300 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Gentex by 2,636.4% in the fourth quarter. Pacer Advisors Inc. now owns 799,243 shares of the auto parts company’s stock worth $18,598,000 after acquiring an additional 770,035 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Gentex by 25,026.7% in the 1st quarter. Hillsdale Investment Management Inc. now owns 188,450 shares of the auto parts company’s stock valued at $4,118,000 after purchasing an additional 187,700 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Gentex during the 2nd quarter valued at approximately $1,533,000. Institutional investors own 86.76% of the company’s stock.

Gentex Company Profile

Gentex Corporation develops, manufactures and supplies technology products for the automotive, aerospace and fire-protection industries. The company is best known for its automatic-dimming rearview mirrors, which use electrochromic technology to reduce glare, as well as related interior and exterior vehicle electronics.

Gentex’s automotive portfolio also includes camera-based driver-assistance systems, connected-car technologies, vehicle lighting and sensing products, biometric and occupant-monitoring systems, and integrated electronic features designed to improve vehicle safety, comfort and convenience.