Gentex Co. (NASDAQ:GNTX) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 11,298,240 shares, a decline of 12.9% from the January 12th total of 12,978,893 shares. Based on an average daily volume of 3,259,577 shares, the short-interest ratio is currently 3.5 days. Currently, 4.1% of the shares of the company are short sold.
Gentex (NASDAQ:GNTX) opened at $22.24 on Tuesday. Gentex has a 52-week low of $16.59 and a 52-week high of $24.07. The stock has a market capitalization of $6,310.00, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.42 and a beta of 1.32.
Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 26th. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Gentex had a return on equity of 18.35% and a net margin of 22.66%. The company had revenue of $459.57 million for the quarter, compared to analysts’ expectations of $449.43 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. research analysts expect that Gentex will post 1.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.80%. The ex-dividend date was Thursday, January 4th. Gentex’s payout ratio is 28.37%.
Several brokerages recently issued reports on GNTX. Zacks Investment Research upgraded Gentex from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, October 17th. BMO Capital Markets boosted their price target on Gentex to $28.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Craig Hallum boosted their price target on Gentex from $18.00 to $23.00 and gave the company a “hold” rating in a research report on Monday, January 29th. B. Riley restated a “buy” rating and issued a $29.00 price target (up previously from $25.00) on shares of Gentex in a research report on Wednesday, January 24th. Finally, Longbow Research began coverage on Gentex in a research report on Friday, January 5th. They issued a “buy” rating and a $25.00 price target on the stock. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $25.50.
In related news, insider Kevin C. Nash sold 7,874 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $23.40, for a total value of $184,251.60. Following the transaction, the insider now owns 34,062 shares in the company, valued at approximately $797,050.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Scott P. Ryan sold 7,220 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $23.66, for a total value of $170,825.20. Following the completion of the transaction, the general counsel now owns 21,329 shares in the company, valued at approximately $504,644.14. The disclosure for this sale can be found here. Insiders sold a total of 27,094 shares of company stock valued at $635,877 over the last three months. Company insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNTX. OxFORD Asset Management LLP acquired a new position in Gentex during the 2nd quarter worth approximately $1,142,000. Numeric Investors LLC increased its position in Gentex by 29.4% during the 2nd quarter. Numeric Investors LLC now owns 20,700 shares of the auto parts company’s stock worth $393,000 after purchasing an additional 4,700 shares during the period. Macquarie Group Ltd. acquired a new position in Gentex during the 2nd quarter worth approximately $1,097,000. Janus Henderson Group PLC increased its position in Gentex by 1,955.2% during the 2nd quarter. Janus Henderson Group PLC now owns 316,835 shares of the auto parts company’s stock worth $6,010,000 after purchasing an additional 301,419 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Gentex by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 438,176 shares of the auto parts company’s stock worth $8,312,000 after purchasing an additional 8,665 shares during the period. Institutional investors own 81.09% of the company’s stock.
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Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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