Gentex (NASDAQ:GNTX) Reaches New 12-Month Low – Here’s What Happened

Gentex Co. (NASDAQ:GNTX)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $20.28 and last traded at $20.78, with a volume of 155717 shares. The stock had previously closed at $20.71.

Wall Street Analysts Forecast Growth

GNTX has been the topic of a number of research reports. Robert W. Baird set a $31.00 target price on shares of Gentex in a research report on Monday, February 3rd. The Goldman Sachs Group dropped their price objective on Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday. B. Riley reiterated a “buy” rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Finally, UBS Group reduced their price objective on shares of Gentex from $29.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Gentex presently has a consensus rating of “Hold” and an average target price of $29.81.

Gentex Trading Up 1.1 %

The company has a market cap of $4.79 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.84 and a beta of 0.84. The stock has a 50-day simple moving average of $23.98 and a 200 day simple moving average of $27.49.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same period last year, the firm earned $0.50 earnings per share. As a group, research analysts forecast that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a $0.12 dividend. The ex-dividend date is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.27%. Gentex’s dividend payout ratio (DPR) is presently 27.27%.

Hedge Funds Weigh In On Gentex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNTX. Midwest Capital Advisors LLC acquired a new position in shares of Gentex during the 4th quarter valued at about $26,000. TD Private Client Wealth LLC grew its stake in shares of Gentex by 138.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock valued at $33,000 after buying an additional 662 shares during the period. Synergy Asset Management LLC acquired a new stake in shares of Gentex during the 4th quarter worth approximately $34,000. Harbor Investment Advisory LLC lifted its holdings in Gentex by 208.2% in the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company’s stock valued at $38,000 after acquiring an additional 1,093 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Gentex by 32.5% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock valued at $70,000 after purchasing an additional 593 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

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.