Gentex (NASDAQ:GNTX) Shares Gap Up - Here's Why

Gentex Co. (NASDAQ:GNTX - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $21.97, but opened at $22.67. Gentex shares last traded at $21.55, with a volume of 155,049 shares.

Analyst Ratings Changes

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

Gentex Stock Down 1.4 %

The business's 50-day moving average price is $23.13 and its 200 day moving average price is $26.77. The company has a market capitalization of $4.91 billion, a P/E ratio of 12.33, 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 analysts' consensus estimates of $0.43. The company had revenue of $576.77 million for the quarter, compared to the consensus estimate of $578.68 million. Gentex had a return on equity of 16.74% and a net margin of 17.49%. Gentex's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. Analysts anticipate that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Wednesday, April 9th. Gentex's payout ratio is 28.07%.

Hedge Funds Weigh In On Gentex

Hedge funds have recently modified their holdings of the stock. Midwest Capital Advisors LLC acquired a new stake in shares of Gentex in the fourth quarter valued at about $26,000. TD Private Client Wealth LLC grew its position 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 buying an additional 662 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Gentex during the fourth quarter valued at $34,000. Harbor Investment Advisory LLC grew its holdings in Gentex by 208.2% in the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock valued at $38,000 after purchasing an additional 1,093 shares during the period. Finally, UMB Bank n.a. boosted its position in Gentex by 103.3% during the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after purchasing an additional 1,079 shares during the period. 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.