Robert W. Baird lowered shares of Gentex (NASDAQ:GNTX) from an outperform rating to a neutral rating in a report published on Tuesday, January 23rd, Marketbeat reports.
Other equities analysts have also issued reports about the stock. Longbow Research initiated coverage on shares of Gentex in a report on Friday, January 5th. They set a buy rating and a $25.00 price objective on the stock. ValuEngine raised shares of Gentex from a hold rating to a buy rating in a report on Wednesday, December 27th. Zacks Investment Research raised shares of Gentex from a hold rating to a buy rating and set a $23.00 price target on the stock in a report on Tuesday, December 26th. FBR & Co reaffirmed a buy rating and issued a $25.00 price target on shares of Gentex in a report on Wednesday, October 18th. Finally, KeyCorp reaffirmed a buy rating and issued a $25.00 price target on shares of Gentex in a report on Sunday, October 15th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Gentex currently has a consensus rating of Buy and a consensus target price of $25.50.
Shares of Gentex (NASDAQ:GNTX) traded up $0.65 during midday trading on Tuesday, reaching $22.78. 2,056,521 shares of the company’s stock traded hands, compared to its average volume of 2,980,000. The company has a market capitalization of $6,470.00, a P/E ratio of 16.16, a P/E/G ratio of 1.42 and a beta of 1.32. Gentex has a twelve month low of $16.59 and a twelve month high of $24.07.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data 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 net margin of 22.66% and a return on equity of 18.35%. The business had revenue of $459.57 million during the quarter, compared to the consensus estimate of $449.43 million. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. equities research analysts predict that Gentex will post 1.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Friday, January 5th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, January 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.76%. Gentex’s dividend payout ratio is presently 28.37%.
In other Gentex news, insider Kevin C. Nash sold 7,874 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $23.40, for a total value of $184,251.60. Following the completion of the transaction, the insider now owns 34,062 shares in the company, valued at $797,050.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Scott P. Ryan sold 7,220 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $23.66, for a total transaction of $170,825.20. Following the completion of the transaction, the general counsel now owns 21,329 shares of the company’s stock, valued at approximately $504,644.14. The disclosure for this sale can be found here. Insiders have sold 27,094 shares of company stock valued at $635,877 over the last 90 days. 2.50% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of Gentex during the third quarter worth about $105,000. Ffcm LLC purchased a new stake in Gentex during the 3rd quarter valued at about $174,000. Hikari Power Ltd purchased a new stake in Gentex during the 4th quarter valued at about $203,000. Essex Financial Services Inc. purchased a new stake in Gentex during the 4th quarter valued at about $205,000. Finally, Uncommon Cents Investing LLC purchased a new stake in Gentex during the 4th quarter valued at about $243,000. 81.09% of the stock is owned by institutional investors and hedge funds.
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Gentex Company Profile
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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