Gentex Corporation (NASDAQ:GNTX) Given Consensus Rating of "Hold" by Brokerages

Gentex Corporation (NASDAQ:GNTX - Get Free Report) has been assigned an average recommendation of "Hold" from the ten analysts that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $29.8750.

GNTX has been the topic of a number of research analyst reports. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird raised their target price on Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 28th. The Goldman Sachs Group set a $32.00 target price on Gentex in a report on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Gentex in a report on Saturday, September 27th. Finally, Zacks Research downgraded Gentex from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Sonora Investment Management Group LLC bought a new position in shares of Gentex in the 3rd quarter valued at $242,000. Steph & Co. lifted its stake in shares of Gentex by 30.5% in the 3rd quarter. Steph & Co. now owns 2,684 shares of the auto parts company's stock valued at $76,000 after acquiring an additional 627 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in shares of Gentex in the 3rd quarter valued at $293,000. GAMMA Investing LLC lifted its stake in shares of Gentex by 40.9% in the 3rd quarter. GAMMA Investing LLC now owns 9,470 shares of the auto parts company's stock valued at $268,000 after acquiring an additional 2,749 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of Gentex by 10.9% in the 2nd quarter. Corient Private Wealth LLC now owns 53,412 shares of the auto parts company's stock valued at $1,166,000 after acquiring an additional 5,236 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $26.63 on Wednesday. The company has a market capitalization of $5.85 billion, a P/E ratio of 15.05 and a beta of 0.84. Gentex has a 1 year low of $20.28 and a 1 year high of $31.48. The business's 50 day simple moving average is $27.80 and its 200 day simple moving average is $24.28.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.08. The business had revenue of $657.86 million for the quarter, compared to the consensus estimate of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The firm's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Gentex will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, October 8th. Gentex's dividend payout ratio (DPR) is currently 27.12%.

Gentex announced that its Board of Directors has authorized a share buyback plan on Wednesday, July 16th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

About Gentex

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.

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