Gentex (NASDAQ:GNTX) Downgraded by StockNews.com

StockNews.com cut shares of Gentex (NASDAQ:GNTX) from a buy rating to a hold rating in a report published on Thursday morning.

Several other analysts have also recently weighed in on GNTX. Guggenheim raised their target price on shares of Gentex from $40.00 to $41.00 and gave the company a buy rating in a report on Wednesday, April 17th. B. Riley raised their target price on shares of Gentex from $42.00 to $44.00 and gave the company a buy rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. raised their target price on shares of Gentex from $36.00 to $37.00 and gave the company a neutral rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group raised their price objective on shares of Gentex from $31.00 to $35.00 and gave the stock a neutral rating in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $37.83.

Gentex Stock Performance

Shares of GNTX opened at $34.36 on Thursday. The stock has a market capitalization of $7.94 billion, a PE ratio of 18.18, a P/E/G ratio of 0.95 and a beta of 0.98. Gentex has a 1 year low of $25.86 and a 1 year high of $37.58. The company’s 50-day simple moving average is $35.01 and its 200-day simple moving average is $33.71.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.01). The firm had revenue of $590.23 million during the quarter, compared to analyst estimates of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. On average, sell-side analysts predict that Gentex will post 2.11 earnings per share for the current year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. Gentex’s payout ratio is currently 25.40%.

Insider Transactions at Gentex

In other news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $34.46, for a total transaction of $162,513.36. Following the transaction, the director now directly owns 3,764 shares in the company, valued at $129,707.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Gentex

Hedge funds have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new position in shares of Gentex during the fourth quarter worth approximately $29,000. National Bank of Canada FI grew its position in Gentex by 159.1% in the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after buying an additional 571 shares during the last quarter. VisionPoint Advisory Group LLC grew its position in Gentex by 123.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after buying an additional 665 shares during the last quarter. GAMMA Investing LLC purchased a new position in Gentex in the 4th quarter valued at $46,000. Finally, LRI Investments LLC purchased a new position in Gentex in the 1st quarter valued at $93,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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.