Gentex (NASDAQ:GNTX) Sets New 12-Month Low – Here’s Why

Gentex Co. (NASDAQ:GNTX) reached a new 52-week low on Tuesday . The company traded as low as $24.55 and last traded at $24.86, with a volume of 33031 shares changing hands. The stock had previously closed at $24.81.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group cut their target price on Gentex from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Bank of America cut their target price on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Robert W. Baird increased their target price on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. B. Riley restated a “buy” rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.06.

Gentex Trading Up 0.3 %

The firm has a market cap of $5.66 billion, a P/E ratio of 14.13, a P/E/G ratio of 0.86 and a beta of 0.91. The stock has a 50 day simple moving average of $28.27 and a 200-day simple moving average of $29.41.

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

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, January 8th. Gentex’s dividend payout ratio is currently 27.27%.

Hedge Funds Weigh In On Gentex

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after purchasing an additional 1,285,519 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Gentex during the fourth quarter valued at $24,479,000. Bridgewater Associates LP grew its holdings in shares of Gentex by 249.1% in the third quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock worth $18,338,000 after purchasing an additional 440,725 shares during the last quarter. Cidel Asset Management Inc. bought a new position in shares of Gentex in the fourth quarter worth about $11,815,000. Finally, Bank of New York Mellon Corp increased its stake in Gentex by 16.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,787,311 shares of the auto parts company’s stock worth $80,079,000 after buying an additional 386,461 shares during the period. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Company Profile

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.