Gentex Corporation (NASDAQ:GNTX) has been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $23.10.
A number of equities analysts recently issued reports on GNTX shares. Zacks Investment Research upgraded shares of Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, April 26th. Wellington Shields cut shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research report on Thursday, May 4th. Finally, BMO Capital Markets reiterated a “positive” rating and set a $25.00 price objective on shares of Gentex Corporation in a research report on Friday, March 24th.
Gentex Corporation (NASDAQ:GNTX) traded down 4.78% during mid-day trading on Monday, hitting $18.14. 3,235,447 shares of the stock traded hands. The stock has a market capitalization of $5.21 billion, a PE ratio of 14.63 and a beta of 1.12. Gentex Corporation has a one year low of $14.66 and a one year high of $22.12. The company has a 50 day moving average price of $19.33 and a 200-day moving average price of $20.26.
Gentex Corporation (NASDAQ:GNTX) last released its quarterly earnings data on Friday, April 21st. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The business had revenue of $453.54 million during the quarter, compared to analysts’ expectations of $444.92 million. Gentex Corporation had a net margin of 21.13% and a return on equity of 19.39%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. Equities analysts anticipate that Gentex Corporation will post $1.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 19th. Shareholders of record on Thursday, July 6th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.21%. This is a positive change from Gentex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Monday, July 3rd. Gentex Corporation’s payout ratio is presently 28.57%.
In other Gentex Corporation news, VP Joseph E. Iv Matthews sold 9,996 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $20.31, for a total transaction of $203,018.76. Following the sale, the vice president now directly owns 20,100 shares of the company’s stock, valued at approximately $408,231. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Mulder sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $19.22, for a total transaction of $192,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 55,610 shares of company stock worth $1,139,229 over the last three months. Insiders own 2.50% of the company’s stock.
A number of large investors have recently bought and sold shares of GNTX. Provident Investment Management Inc. acquired a new stake in Gentex Corporation during the first quarter worth $24,307,000. Janus Capital Management LLC raised its stake in Gentex Corporation by 72.0% in the first quarter. Janus Capital Management LLC now owns 149,902 shares of the auto parts company’s stock worth $3,198,000 after buying an additional 62,775 shares during the last quarter. Oak Associates Ltd. OH raised its stake in Gentex Corporation by 41.5% in the first quarter. Oak Associates Ltd. OH now owns 206,290 shares of the auto parts company’s stock worth $4,400,000 after buying an additional 60,500 shares during the last quarter. Horizon Investment Services LLC raised its stake in Gentex Corporation by 27.7% in the first quarter. Horizon Investment Services LLC now owns 160,713 shares of the auto parts company’s stock worth $3,428,000 after buying an additional 34,901 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Gentex Corporation by 14.0% in the first quarter. HighTower Advisors LLC now owns 245,850 shares of the auto parts company’s stock worth $5,247,000 after buying an additional 30,271 shares during the last quarter. 83.47% of the stock is currently owned by hedge funds and other institutional investors.
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Gentex Corporation 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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