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

Key Points

• Analysts maintain a “Hold” consensus on Gentex, with seven hold ratings and one buy among eight analysts. The average 12-month price target is $27.00, above the reported opening price of $23.45.
• Gentex exceeded quarterly EPS expectations, reporting $0.58 per share versus the $0.50 consensus, although revenue of $651.3 million fell short of estimates and declined 1% year over year.
• The company declared a quarterly dividend of $0.12 per share, equivalent to an annualized $0.48 dividend and a roughly 2.0% yield; institutional investors own 86.76% of outstanding shares.

Gentex Corporation (NASDAQ:GNTX - Get Free Report) has earned a consensus recommendation of "Hold" from the eight analysts that are currently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $27.00.

A number of equities analysts recently weighed in on GNTX shares. JPMorgan Chase & Co. boosted their price target on shares of Gentex from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Freedom Capital lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. UBS Group restated a "neutral" rating and set a $25.00 target price (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Weiss Ratings raised Gentex from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Finally, Robert W. Baird lifted their price objective on Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th.

Gentex Stock Performance

Shares of GNTX stock opened at $23.45 on Tuesday. Gentex has a fifty-two week low of $20.48 and a fifty-two week high of $29.38. The stock's fifty day moving average is $24.53 and its two-hundred day moving average is $23.49. The firm has a market capitalization of $4.99 billion, a P/E ratio of 12.41 and a beta of 0.78.

Gentex (NASDAQ:GNTX - Get Free Report) last released its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The business had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 earnings per share. On average, equities analysts forecast that Gentex will post 1.99 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex's payout ratio is presently 25.40%.

Insider Transactions at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $22.98, for a total value of $136,478.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brian C. Walker sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the sale, the director directly owned 24,205 shares of the company's stock, valued at approximately $556,230.90. This trade represents a 19.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.55% of the company's stock.

Institutional Trading of Gentex

Institutional investors have recently made changes to their positions in the company. Anchor Investment Management LLC purchased a new position in Gentex in the first quarter worth approximately $26,000. CIBC Private Wealth Group LLC raised its position in Gentex by 2,420.7% in the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company's stock valued at $58,000 after purchasing an additional 1,985 shares during the period. Arax Advisory Partners acquired a new position in shares of Gentex in the 4th quarter valued at $52,000. AdvisorNet Financial Inc lifted its stake in shares of Gentex by 2,299.0% in the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company's stock valued at $52,000 after purchasing an additional 2,299 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new position in shares of Gentex during the 4th quarter worth $56,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

About Gentex

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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