Gentex (NASDAQ:GNTX) had its target price raised by B. Riley from $33.00 to $38.75 in a research report released on Monday, The Fly reports. B. Riley also issued estimates for Gentex’s Q4 2020 earnings at $0.49 EPS, FY2020 earnings at $1.32 EPS and FY2021 earnings at $1.91 EPS.
Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group boosted their price target on shares of Gentex from $32.00 to $33.00 and gave the company a buy rating in a report on Friday, October 9th. Robert W. Baird began coverage on shares of Gentex in a research note on Monday, October 19th. They set an outperform rating and a $32.00 price target for the company. BidaskClub raised Gentex from a sell rating to a hold rating in a report on Tuesday, October 13th. KeyCorp increased their target price on Gentex from $33.00 to $36.00 and gave the stock an overweight rating in a report on Monday. Finally, TheStreet lowered Gentex from a b rating to a c+ rating in a research note on Friday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $31.47.
GNTX stock opened at $27.39 on Monday. Gentex has a twelve month low of $19.48 and a twelve month high of $31.27. The company has a market cap of $6.73 billion, a PE ratio of 23.21 and a beta of 1.13. The business’s 50-day simple moving average is $26.85 and its 200 day simple moving average is $26.20.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 23rd. The auto parts company reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The company had revenue of $474.60 million for the quarter, compared to analyst estimates of $459.79 million. Gentex had a return on equity of 16.26% and a net margin of 18.60%. Gentex’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. Research analysts predict that Gentex will post 1.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Friday, October 9th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Thursday, October 8th. Gentex’s payout ratio is currently 28.92%.
In other Gentex news, CEO Steven R. Downing sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $25.81, for a total value of $154,860.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kevin C. Nash sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $25.81, for a total transaction of $77,430.00. Following the completion of the sale, the chief financial officer now directly owns 30,040 shares of the company’s stock, valued at approximately $775,332.40. The disclosure for this sale can be found here. In the last three months, insiders sold 32,700 shares of company stock worth $897,075. Insiders own 0.37% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Clark Capital Management Group Inc. bought a new stake in Gentex during the second quarter valued at about $17,106,000. Marshall Wace LLP lifted its position in shares of Gentex by 202.3% during the 2nd quarter. Marshall Wace LLP now owns 927,008 shares of the auto parts company’s stock worth $23,889,000 after purchasing an additional 620,310 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Gentex by 118.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 709,042 shares of the auto parts company’s stock valued at $18,272,000 after purchasing an additional 385,011 shares during the period. Prudential Financial Inc. increased its position in Gentex by 182.6% in the 2nd quarter. Prudential Financial Inc. now owns 531,418 shares of the auto parts company’s stock worth $13,694,000 after buying an additional 343,358 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Gentex by 48.5% during the second quarter. TimesSquare Capital Management LLC now owns 950,000 shares of the auto parts company’s stock worth $24,482,000 after buying an additional 310,200 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.
Gentex Company Profile
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It operates through Automotive Products and Other segments. The company designs, develops, manufactures, and markets 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.
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