Guggenheim Has Lowered Expectations for Gentex (NASDAQ:GNTX) Stock Price

Gentex (NASDAQ:GNTX) had its price objective trimmed by Guggenheim from $35.00 to $34.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the auto parts company’s stock.

A number of other equities research analysts also recently issued reports on the company. UBS Group assumed coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective on the stock. B. Riley lowered their price target on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. BNP Paribas cut shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, July 30th. Bank of America lowered their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, The Goldman Sachs Group cut their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.13.

Gentex Stock Performance

GNTX stock opened at $30.40 on Thursday. The firm has a fifty day moving average price of $29.92 and a 200 day moving average price of $31.63. The firm has a market cap of $6.91 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. Gentex has a fifty-two week low of $28.30 and a fifty-two week high of $37.58.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex’s payout ratio is 25.67%.

Hedge Funds Weigh In On Gentex

A number of large investors have recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Gentex in the 2nd quarter worth approximately $31,000. Gladius Capital Management LP purchased a new position in Gentex in the second quarter worth $34,000. EverSource Wealth Advisors LLC increased its position in shares of Gentex by 173.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after purchasing an additional 850 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,269 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Gentex in the 2nd quarter worth $67,000. 86.76% of the stock is currently owned by institutional investors.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.