Shares of Gentex Co. (NASDAQ:GNTX) have been given an average rating of “Buy” by the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $25.33.
GNTX has been the subject of several analyst reports. Longbow Research initiated coverage on shares of Gentex in a research note on Friday, January 5th. They issued a “buy” rating and a $25.00 target price for the company. ValuEngine raised shares of Gentex from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Zacks Investment Research raised shares of Gentex from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, December 26th. B. Riley reissued a “buy” rating and issued a $29.00 target price (up from $25.00) on shares of Gentex in a research note on Wednesday, January 24th. Finally, Robert W. Baird reissued a “hold” rating and issued a $23.00 target price on shares of Gentex in a research note on Friday, January 26th.
In other Gentex news, General Counsel Scott P. Ryan sold 7,220 shares of Gentex stock in a transaction on Wednesday, January 31st. The shares were 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 directly owns 21,329 shares of the company’s stock, valued at $504,644.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin C. Nash sold 7,874 shares of Gentex stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $23.40, for a total transaction of $184,251.60. Following the transaction, the insider now directly owns 34,062 shares of the company’s stock, valued at $797,050.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 974,354 shares of company stock valued at $22,734,583. Company insiders own 2.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. lifted its holdings in shares of Gentex by 0.4% during the fourth quarter. American International Group Inc. now owns 648,041 shares of the auto parts company’s stock worth $13,576,000 after buying an additional 2,470 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Gentex by 2.0% during the fourth quarter. Franklin Resources Inc. now owns 146,210 shares of the auto parts company’s stock worth $3,063,000 after buying an additional 2,898 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Gentex by 13.3% during the third quarter. Alps Advisors Inc. now owns 24,856 shares of the auto parts company’s stock worth $492,000 after buying an additional 2,911 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Gentex by 5.7% during the fourth quarter. Amalgamated Bank now owns 58,649 shares of the auto parts company’s stock worth $1,229,000 after buying an additional 3,156 shares in the last quarter. Finally, OLD National Bancorp IN lifted its holdings in shares of Gentex by 6.4% during the fourth quarter. OLD National Bancorp IN now owns 56,993 shares of the auto parts company’s stock worth $1,194,000 after buying an additional 3,411 shares in the last quarter. 84.11% of the stock is owned by hedge funds and other institutional investors.
Shares of Gentex (GNTX) traded up $0.20 on Wednesday, hitting $23.50. 3,465,514 shares of the stock traded hands, compared to its average volume of 2,003,722. The company has a market cap of $6,394.01, a PE ratio of 16.67, a P/E/G ratio of 1.49 and a beta of 1.31. Gentex has a one year low of $16.59 and a one year high of $24.07.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.33 earnings per share for the quarter, topping the 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 company had revenue of $459.57 million during the quarter, compared to analysts’ expectations of $449.43 million. During the same period last year, the business earned $0.31 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. analysts anticipate that Gentex will post 1.62 earnings per share for the current fiscal year.
Gentex declared that its board has approved a share buyback program on Friday, March 9th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Friday, April 6th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.87%. This is a boost from Gentex’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, April 5th. Gentex’s payout ratio is 28.37%.
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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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