Gentex (NASDAQ:GNTX) Sets New 52-Week Low - Here's Why

Gentex Co. (NASDAQ:GNTX - Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $21.44 and last traded at $21.78, with a volume of 1939293 shares. The stock had previously closed at $22.01.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GNTX shares. The Goldman Sachs Group decreased their price objective on Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. UBS Group cut their price objective on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Robert W. Baird reiterated a "neutral" rating and issued a $25.00 target price (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Finally, B. Riley restated a "buy" rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $28.31.

Gentex Trading Down 0.4 %

The company's fifty day simple moving average is $22.96 and its 200 day simple moving average is $26.61. The firm has a market capitalization of $4.88 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84.

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

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.23%. Gentex's dividend payout ratio is presently 28.07%.

Hedge Funds Weigh In On Gentex

Institutional investors have recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC bought a new stake in shares of Gentex during the 4th quarter valued at $26,000. Larson Financial Group LLC lifted its position in Gentex by 1,471.0% during the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock valued at $25,000 after acquiring an additional 1,015 shares during the period. TD Private Client Wealth LLC boosted its stake 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 acquiring an additional 662 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in Gentex in the fourth quarter worth about $34,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Gentex by 85.4% during the first 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 in the last quarter. Institutional investors own 86.76% of the company's stock.

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.