B. Riley Boosts Gentex (NASDAQ:GNTX) Price Target to $35.00

Gentex (NASDAQ:GNTX) had its price target upped by B. Riley from $29.00 to $35.00 in a research report released on Monday morning, BenzingaRatingsTable reports. B. Riley currently has a buy rating on the auto parts company’s stock. B. Riley also issued estimates for Gentex’s Q4 2019 earnings at $0.36 EPS, Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.43 EPS and FY2020 earnings at $1.79 EPS.

A number of other research firms also recently weighed in on GNTX. Zacks Investment Research downgraded shares of Gentex from a hold rating to a sell rating and set a $29.00 price target for the company. in a research report on Thursday, October 17th. Longbow Research reissued a hold rating on shares of Gentex in a research report on Sunday, July 7th. Guggenheim started coverage on shares of Gentex in a research report on Tuesday, October 15th. They set a buy rating and a $29.00 price target for the company. BidaskClub raised shares of Gentex from a sell rating to a hold rating in a research report on Tuesday, July 30th. Finally, ValuEngine downgraded shares of Gentex from a hold rating to a sell rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $27.28.

Shares of GNTX traded down $0.10 during mid-day trading on Monday, reaching $27.85. 82,126 shares of the stock traded hands, compared to its average volume of 1,583,170. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 3.34 and a beta of 1.22. The stock has a fifty day simple moving average of $27.26 and a 200 day simple moving average of $24.90. Gentex has a 12-month low of $19.24 and a 12-month high of $28.91.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 18th. The auto parts company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Gentex had a net margin of 23.09% and a return on equity of 22.87%. The company had revenue of $477.76 million for the quarter, compared to analyst estimates of $475.59 million. During the same quarter last year, the firm posted $0.42 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts predict that Gentex will post 1.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, October 8th. Gentex’s payout ratio is currently 28.40%.

In other Gentex news, SVP Roger Perry Campbell sold 1,500 shares of Gentex stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $88.92, for a total value of $133,380.00. Also, Director John A. Mulder sold 5,000 shares of Gentex stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $28.08, for a total transaction of $140,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,086 shares of company stock valued at $894,954. 0.37% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Carroll Financial Associates Inc. boosted its holdings in Gentex by 159.1% in the second quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock worth $31,000 after purchasing an additional 789 shares during the period. Capital Bank & Trust Co acquired a new position in shares of Gentex during the second quarter valued at $49,000. Hikari Tsushin Inc. acquired a new position in shares of Gentex during the second quarter valued at $50,000. AdvisorNet Financial Inc boosted its holdings in shares of Gentex by 87.2% during the third quarter. AdvisorNet Financial Inc now owns 2,433 shares of the auto parts company’s stock valued at $67,000 after acquiring an additional 1,133 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Gentex by 64.3% during the second quarter. Parallel Advisors LLC now owns 4,695 shares of the auto parts company’s stock valued at $116,000 after acquiring an additional 1,838 shares during the period. 80.85% of the stock is owned by hedge funds and other institutional investors.

About Gentex

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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