Gentex Corporation (NASDAQ:GNTX) Given Average Recommendation of “Hold” by Analysts

Gentex Corporation (NASDAQ:GNTX) has received a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $26.8333.

Several equities research analysts recently issued reports on GNTX shares. Robert W. Baird increased their target price on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. JPMorgan Chase & Co. increased their price objective on shares of Gentex from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. UBS Group set a $26.00 price objective on shares of Gentex in a report on Sunday, April 26th. B. Riley Financial reaffirmed a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a report on Monday, April 27th. Finally, Freedom Capital raised shares of Gentex to a “strong-buy” rating in a report on Friday, March 27th.

Gentex Stock Performance

Gentex stock opened at $23.85 on Thursday. The firm has a 50 day moving average of $22.37 and a 200 day moving average of $23.07. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 13.40 and a beta of 0.78. Gentex has a 12-month low of $20.48 and a 12-month high of $29.38.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. Gentex had a net margin of 14.75% and a return on equity of 16.27%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. On average, analysts predict that Gentex will post 1.96 EPS for the current year.

Insider Buying and Selling at Gentex

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian C. Walker sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the sale, the director directly owned 24,205 shares of the company’s stock, valued at approximately $556,230.90. This trade represents a 19.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,693 shares of company stock valued at $385,194 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

Institutional investors have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC bought a new position in shares of Gentex during the 1st quarter valued at approximately $26,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Gentex during the 3rd quarter valued at approximately $38,000. Clearstead Advisors LLC boosted its position in shares of Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 922 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after acquiring an additional 1,985 shares during the last quarter. Finally, Arax Advisory Partners bought a new position in shares of Gentex during the 4th quarter valued at approximately $52,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

About Gentex

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).