Brokerages Set Gentex Co. (NASDAQ:GNTX) Price Target at $28.31

Gentex Co. (NASDAQ:GNTX - Get Free Report) has received a consensus rating of "Hold" from the nine analysts that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $28.31.

Several equities research analysts have recently weighed in on GNTX shares. UBS Group reduced their price target on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Baird R W lowered Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. The Goldman Sachs Group decreased their target price on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Guggenheim lowered their target price on shares of Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $25.00 price target (down previously from $31.00) on shares of Gentex in a research note on Tuesday, April 15th.

Insider Activity

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the transaction, the director now directly owns 5,939 shares in the company, valued at $135,824.93. The trade was a 38.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.45% of the company's stock.

Hedge Funds Weigh In On Gentex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNTX. Midwest Capital Advisors LLC purchased a new position in shares of Gentex during the 4th quarter worth $26,000. Larson Financial Group LLC grew its holdings in shares of Gentex by 1,471.0% in the first quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock valued at $25,000 after purchasing an additional 1,015 shares during the period. TD Private Client Wealth LLC increased its position in Gentex by 138.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after purchasing an additional 662 shares during the last quarter. Brooklyn Investment Group raised its stake in Gentex by 305.7% during the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock worth $28,000 after purchasing an additional 917 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Gentex by 85.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock valued at $28,000 after purchasing an additional 563 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Price Performance

Shares of NASDAQ:GNTX traded up $0.09 during trading on Thursday, hitting $21.41. 1,657,337 shares of the company's stock were exchanged, compared to its average volume of 1,832,940. The business's 50-day simple moving average is $21.86 and its 200 day simple moving average is $25.27. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 0.84 and a beta of 0.81. Gentex has a 52-week low of $20.28 and a 52-week high of $35.32.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $576.77 million for the quarter, compared to analysts' expectations of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The business's revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, sell-side analysts anticipate that Gentex will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex's dividend payout ratio is presently 28.07%.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.