Gentex Corporation (NASDAQ:GNTX) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Gentex has a consensus “Hold” rating from seven analysts: six holds and one buy. The average 12-month price target is $26.80, with several firms recently lowering targets or downgrading the stock.
• Gentex reported quarterly EPS of $0.58, exceeding the $0.50 analyst estimate, while revenue of $651.3 million fell short of expectations and declined 1% year over year.
• The stock opened at $22.30, near its 52-week low, and the company declared a quarterly dividend of $0.12, equivalent to a 2.2% annualized yield. Institutional investors own 86.76% of outstanding shares.

Shares of Gentex Corporation (NASDAQ:GNTX - Get Free Report) have been given a consensus rating of "Hold" by the seven research firms that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.80.

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gentex in a report on Friday. Wall Street Zen cut shares of Gentex from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. UBS Group restated a "neutral" rating and issued a $25.00 price target (down from $26.00) on shares of Gentex in a research report on Thursday, July 9th. JPMorgan Chase & Co. cut their target price on shares of Gentex from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. Finally, Freedom Capital downgraded Gentex from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new position in shares of Gentex during the 1st quarter valued at about $26,000. AdvisorNet Financial Inc lifted its holdings in Gentex by 2,299.0% in the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company's stock worth $52,000 after purchasing an additional 2,299 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Gentex in the 2nd quarter worth approximately $54,000. Employees Retirement System of Texas bought a new stake in Gentex during the fourth quarter worth approximately $56,000. Finally, Clearstead Advisors LLC boosted its position in Gentex by 21.4% during the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company's stock worth $58,000 after purchasing an additional 437 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Up 0.8%

Shares of Gentex stock opened at $22.30 on Wednesday. The business has a 50-day moving average price of $23.34 and a 200 day moving average price of $23.30. Gentex has a fifty-two week low of $20.48 and a fifty-two week high of $29.01. The firm has a market cap of $4.75 billion, a P/E ratio of 11.80 and a beta of 0.80.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The company had revenue of $651.30 million for the quarter, compared to the consensus estimate of $669.65 million. During the same quarter last year, the business posted $0.43 EPS. Gentex's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Gentex will post 2.07 earnings per share for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.48 annualized dividend and a dividend yield of 2.2%. Gentex's dividend payout ratio (DPR) is 25.40%.

About Gentex

Gentex Corporation is a technology and manufacturing company headquartered in Zeeland, Michigan. Founded in 1974, the company develops products primarily for the automotive industry, serving vehicle manufacturers and suppliers in North America, Europe, Asia and other international markets.

Gentex is best known for its automatic-dimming rearview mirrors, which use electrochromic technology to reduce glare from headlights. Its automotive product portfolio also includes camera-based driver-assistance systems, digital rearview mirrors, vehicle display and connectivity technologies, lighting products, and other electronic features designed to support vehicle safety, convenience and visibility.

The company also develops fire-protection products, including smoke detectors and signaling devices for residential, commercial and industrial applications.

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