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

Key Points

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Gentex Corporation (NASDAQ:GNTX - Get Free Report) has been assigned an average rating of "Hold" from the eight brokerages that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $28.6250.

GNTX has been the topic of several recent research reports. Guggenheim reduced their price target on Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. B. Riley boosted their price target on Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. The Goldman Sachs Group reissued a "neutral" rating on shares of Gentex in a research report on Friday, July 11th. Finally, Industrial Alliance Securities set a $25.00 price target on Gentex in a research report on Friday, July 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cerity Partners LLC lifted its holdings in Gentex by 113.9% during the 4th quarter. Cerity Partners LLC now owns 21,520 shares of the auto parts company's stock worth $623,000 after buying an additional 11,459 shares during the last quarter. Barclays PLC lifted its holdings in Gentex by 66.5% during the 4th quarter. Barclays PLC now owns 179,659 shares of the auto parts company's stock worth $5,162,000 after buying an additional 71,729 shares during the last quarter. Marshall Wace LLP bought a new position in Gentex during the 4th quarter worth approximately $10,868,000. Forum Financial Management LP bought a new position in Gentex during the 4th quarter worth approximately $214,000. Finally, First Trust Advisors LP lifted its holdings in Gentex by 1.9% during the 4th quarter. First Trust Advisors LP now owns 2,339,211 shares of the auto parts company's stock worth $67,206,000 after buying an additional 44,560 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $27.18 on Tuesday. The firm has a market capitalization of $5.97 billion, a PE ratio of 15.36 and a beta of 0.82. The business has a 50-day moving average of $24.05 and a two-hundred day moving average of $23.38. Gentex has a 12 month low of $20.28 and a 12 month high of $31.75.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08. Gentex had a return on equity of 16.86% and a net margin of 16.82%. The company had revenue of $657.86 million during the quarter, compared to analyst estimates of $591.94 million. During the same period in the prior year, the firm posted $0.37 earnings per share. The firm's revenue was up 14.8% on a year-over-year basis. As a group, research analysts anticipate that Gentex will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.8%. Gentex's dividend payout ratio is currently 27.12%.

Gentex declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

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.

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