Gentex Corporation (NASDAQ:GNTX) Stock Has Consensus Target Price of $25.20

Shares of Gentex Corporation (NASDAQ:GNTX) have been given an average recommendation of “Hold” by the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $25.20.

A number of research analysts have recently issued reports on GNTX shares. JPMorgan Chase & Co. dropped their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. Weiss Ratings cut shares of Gentex from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. UBS Group lowered their target price on shares of Gentex from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. The Goldman Sachs Group lowered shares of Gentex from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $23.00 to $20.00 in a research note on Tuesday, October 6th. Finally, Wall Street Zen lowered Gentex from a “buy” rating to a “hold” rating in a report on Sunday, July 12th.

Hedge Funds Weigh In On Gentex

Hedge funds and other institutional investors have recently bought and sold shares of the company. Inspire Investing LLC grew its holdings in Gentex by 8.5% during the 3rd quarter. Inspire Investing LLC now owns 29,061 shares of the auto parts company’s stock valued at $632,000 after buying an additional 2,269 shares during the last quarter. Studio Investment Management LLC increased its holdings in shares of Gentex by 20.8% during the 3rd quarter. Studio Investment Management LLC now owns 18,371 shares of the auto parts company’s stock worth $399,000 after buying an additional 3,164 shares during the last quarter. Cardinal Capital Management raised its holdings in Gentex by 8.0% in the third quarter. Cardinal Capital Management now owns 86,807 shares of the auto parts company’s stock valued at $1,887,000 after buying an additional 6,432 shares during the period. Skylands Capital LLC lifted its position in Gentex by 230.6% during the third quarter. Skylands Capital LLC now owns 44,800 shares of the auto parts company’s stock valued at $974,000 after buying an additional 31,250 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in Gentex by 13.7% during the third quarter. Crossmark Global Holdings Inc. now owns 16,741 shares of the auto parts company’s stock valued at $364,000 after buying an additional 2,015 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Performance

Shares of GNTX opened at $21.74 on Friday. The stock has a 50-day simple moving average of $22.32 and a 200-day simple moving average of $23.30. The stock has a market capitalization of $4.63 billion, a PE ratio of 10.77 and a beta of 0.86. Gentex has a 1 year low of $20.48 and a 1 year high of $26.53.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 earnings per share 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 company had revenue of $651.30 million for the quarter, compared to analysts’ expectations of $669.65 million. During the same quarter last year, the company earned $0.43 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts predict that Gentex will post 2.06 EPS for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th were issued a $0.12 dividend. The ex-dividend date was Wednesday, October 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.2%. Gentex’s dividend payout ratio is currently 25.40%.

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.