Gentex Corporation (NASDAQ:GNTX) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts largely rate Gentex “Hold”: Seven of eight covering brokerages recommend holding the stock, while one recommends buying it. The average 12-month price target is $26.80.
• Gentex shares opened at $22.67, down 1.7%, with a market capitalization of approximately $4.83 billion. The stock trades at a P/E ratio of 11.99 and remains below its 52-week high of $29.38.
• The company exceeded quarterly EPS expectations, reporting $0.58 versus the $0.50 consensus, though revenue of $651.3 million fell short of estimates and declined 1% year over year. Institutional investors own approximately 86.76% of Gentex’s shares.

Shares of Gentex Corporation (NASDAQ:GNTX - Get Free Report) have been assigned an average recommendation of "Hold" from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $26.80.

GNTX has been the subject of a number of recent analyst reports. UBS Group reaffirmed a "neutral" rating and set a $25.00 price target (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. JPMorgan Chase & Co. cut their price objective 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. Weiss Ratings raised shares of Gentex from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Wall Street Zen downgraded Gentex from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Freedom Capital lowered Gentex from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 29th.

Gentex Stock Down 1.7%

Gentex stock opened at $22.67 on Friday. Gentex has a 52-week low of $20.48 and a 52-week high of $29.38. The firm has a market capitalization of $4.83 billion, a P/E ratio of 11.99 and a beta of 0.79. The firm has a fifty day moving average of $24.04 and a 200-day moving average of $23.47.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $651.30 million for the quarter, compared to analysts' expectations of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The firm's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. On average, research analysts expect that Gentex will post 2.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently bought and sold shares of the business. XXEC Inc. acquired a new stake in shares of Gentex in the 2nd quarter valued at about $7,705,220,000. BlackRock Inc. acquired a new position in Gentex during the 2nd quarter valued at approximately $550,287,000. Wellington Management Group LLP grew its position in shares of Gentex by 10.3% during the third quarter. Wellington Management Group LLP now owns 14,828,120 shares of the auto parts company's stock worth $419,636,000 after acquiring an additional 1,383,203 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Gentex by 14,398.7% in the fourth quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company's stock valued at $179,785,000 after purchasing an additional 7,672,769 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Gentex by 12.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,463,299 shares of the auto parts company's stock valued at $163,067,000 after acquiring an additional 833,919 shares during the period. 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).

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