Gentex (NASDAQ:GNTX) Reaches New 1-Year Low - Here's Why

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GNTX. Robert W. Baird reiterated a "neutral" rating and set a $25.00 price objective (down previously from $31.00) on shares of Gentex in a report on Tuesday, April 15th. Guggenheim lowered their price target on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. B. Riley restated a "buy" rating and set a $32.50 price objective (down previously from $37.00) on shares of Gentex in a report on Monday, February 3rd. Baird R W downgraded shares of Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group cut their target price on Gentex from $28.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Gentex has a consensus rating of "Hold" and an average price target of $28.31.

Gentex Stock Down 0.5 %

The firm has a market capitalization of $4.87 billion, a PE ratio of 12.22, a PEG ratio of 0.84 and a beta of 0.85. The stock has a 50-day moving average price of $22.90 and a 200 day moving average price of $26.53.

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, hitting analysts' consensus estimates of $0.43. The business had revenue of $576.77 million during the quarter, compared to the consensus estimate of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The business's revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. As a group, equities 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. Stockholders 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 currently 28.07%.

Hedge Funds Weigh In On Gentex

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Gentex by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company's stock worth $517,802,000 after buying an additional 1,038,912 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in Gentex by 1.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 5,516,817 shares of the auto parts company's stock valued at $158,498,000 after purchasing an additional 86,929 shares during the period. Geode Capital Management LLC grew its stake in Gentex by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 5,423,820 shares of the auto parts company's stock worth $155,861,000 after purchasing an additional 55,816 shares in the last quarter. TD Asset Management Inc. grew its stake in Gentex by 7.1% during the 4th quarter. TD Asset Management Inc. now owns 5,415,871 shares of the auto parts company's stock worth $155,598,000 after purchasing an additional 356,854 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Gentex by 162.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company's stock valued at $150,810,000 after purchasing an additional 3,248,434 shares in the last quarter. Institutional investors and hedge funds 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.