BidaskClub downgraded shares of Gentex (NASDAQ:GNTX) from a buy rating to a hold rating in a research report released on Saturday morning.
GNTX has been the topic of several other reports. Susquehanna Bancshares set a $25.00 price target on shares of Gentex and gave the stock a hold rating in a research note on Sunday, April 22nd. ValuEngine downgraded shares of Gentex from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Gentex from a hold rating to a buy rating and set a $25.00 price target on the stock in a research note on Monday, April 23rd. Longbow Research reissued a buy rating and issued a $28.00 price target on shares of Gentex in a research note on Monday, April 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Gentex from $26.00 to $25.00 and set a neutral rating on the stock in a research note on Tuesday, April 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $25.60.
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Gentex opened at $23.51 on Friday, according to Marketbeat. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.09 and a beta of 1.26. Gentex has a 52-week low of $16.59 and a 52-week high of $25.41.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 20th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $465.42 million for the quarter, compared to the consensus estimate of $478.06 million. Gentex had a net margin of 23.27% and a return on equity of 19.05%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. equities research analysts predict that Gentex will post 1.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 18th. Stockholders of record on Friday, July 6th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, July 5th. Gentex’s dividend payout ratio is currently 34.38%.
Gentex declared that its board has authorized a stock buyback program on Friday, March 9th that allows the company to repurchase 20,000,000 outstanding shares. This repurchase authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Gentex news, Director John A. Mulder sold 5,000 shares of Gentex stock in a transaction dated Tuesday, June 19th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick A. Sotok sold 4,000 shares of Gentex stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $22.92, for a total transaction of $91,680.00. Following the transaction, the director now directly owns 31,696 shares in the company, valued at $726,472.32. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. First Republic Investment Management Inc. increased its position in shares of Gentex by 12.6% during the first quarter. First Republic Investment Management Inc. now owns 19,891 shares of the auto parts company’s stock valued at $458,000 after acquiring an additional 2,220 shares during the last quarter. Atria Investments LLC increased its position in shares of Gentex by 5.5% during the first quarter. Atria Investments LLC now owns 45,440 shares of the auto parts company’s stock valued at $1,046,000 after acquiring an additional 2,350 shares during the last quarter. Franklin Resources Inc. increased its position 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 valued at $3,063,000 after acquiring an additional 2,898 shares during the last quarter. Busey Trust CO increased its position in shares of Gentex by 1.8% during the first quarter. Busey Trust CO now owns 179,072 shares of the auto parts company’s stock valued at $4,122,000 after acquiring an additional 3,125 shares during the last quarter. Finally, Amalgamated Bank increased its position 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 valued at $1,229,000 after acquiring an additional 3,156 shares during the last quarter. 82.45% of the stock is currently owned by institutional investors.
Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features 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.