Gentex (NASDAQ:GNTX) Given "Hold (C)" Rating at Weiss Ratings

Gentex (NASDAQ:GNTX - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other research analysts have also recently issued research reports about the stock. B. Riley boosted their price objective on shares of Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Wall Street Zen raised shares of Gentex from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Zacks Research lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 19th. The Goldman Sachs Group set a $32.00 price objective on shares of Gentex in a research report on Monday, September 29th. Finally, UBS Group reiterated a "neutral" rating and issued a $29.00 price target (up previously from $28.00) on shares of Gentex in a report on Monday. Two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $29.88.

Gentex Price Performance

Shares of NASDAQ:GNTX opened at $26.61 on Wednesday. Gentex has a 1-year low of $20.28 and a 1-year high of $31.48. The firm's 50 day simple moving average is $27.79 and its two-hundred day simple moving average is $24.29. The company has a market capitalization of $5.84 billion, a P/E ratio of 15.03 and a beta of 0.84.

Gentex (NASDAQ:GNTX - Get Free Report) last released its 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. The firm had revenue of $657.86 million for the quarter, compared to the consensus estimate of $591.94 million. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The company's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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 earnings per share for the current fiscal year.

Gentex announced that its Board of Directors has initiated a share repurchase program on Wednesday, July 16th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the auto parts company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Gentex

Several institutional investors have recently bought and sold shares of GNTX. GAMMA Investing LLC grew its position in shares of Gentex by 2,604.0% during the first quarter. GAMMA Investing LLC now owns 138,798 shares of the auto parts company's stock worth $3,234,000 after buying an additional 133,665 shares in the last quarter. NBC Securities Inc. lifted its stake in Gentex by 268,600.0% in the first quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock valued at $62,000 after buying an additional 2,686 shares during the last quarter. UMB Bank n.a. lifted its stake in Gentex by 103.3% in the first quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock valued at $49,000 after buying an additional 1,079 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Gentex by 50.1% in the first quarter. Farther Finance Advisors LLC now owns 9,283 shares of the auto parts company's stock valued at $218,000 after buying an additional 3,098 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Gentex during the first quarter worth approximately $456,000. 86.76% of the stock is owned by institutional investors and hedge funds.

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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