B. Riley set a $29.00 target price on Gentex (NASDAQ:GNTX) in a report released on Friday morning, TipRanks reports. The firm currently has a buy rating on the auto parts company’s stock.
A number of other equities analysts have also recently commented on the stock. ValuEngine cut shares of Vereit from a buy rating to a hold rating in a research note on Friday. Longbow Research reissued a hold rating on shares of Cooper Tire & Rubber in a research note on Sunday, July 7th. Zacks Investment Research cut shares of Bridge Bancorp from a hold rating to a sell rating in a research note on Tuesday. BidaskClub cut shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, July 11th. Finally, BMO Capital Markets reissued a hold rating on shares of First Majestic Silver in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $23.66.
Gentex stock traded up $0.18 during midday trading on Friday, hitting $26.44. 3,245,819 shares of the stock were exchanged, compared to its average volume of 1,749,682. Gentex has a 52-week low of $17.80 and a 52-week high of $26.87. The company has a market capitalization of $6.76 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 3.69 and a beta of 1.21. The stock’s 50-day simple moving average is $24.05.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 19th. The auto parts company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. The business had revenue of $468.71 million for the quarter, compared to analyst estimates of $462.65 million. Gentex had a net margin of 23.28% and a return on equity of 23.08%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. On average, equities analysts predict that Gentex will post 1.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th will be paid a $0.115 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $0.46 dividend on an annualized basis and a yield of 1.74%. Gentex’s dividend payout ratio is presently 28.40%.
In other news, Director James A. Hollars sold 14,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $25.32, for a total value of $354,480.00. Following the completion of the sale, the director now owns 51,707 shares of the company’s stock, valued at approximately $1,309,221.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven R. Downing sold 3,810 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $25.32, for a total transaction of $96,469.20. Following the completion of the sale, the insider now directly owns 124,078 shares of the company’s stock, valued at approximately $3,141,654.96. The disclosure for this sale can be found here. In the last three months, insiders sold 33,293 shares of company stock valued at $832,283. Corporate insiders own 0.37% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Gentex by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,119,321 shares of the auto parts company’s stock valued at $123,669,000 after buying an additional 283,696 shares during the last quarter. MML Investors Services LLC purchased a new position in Gentex during the fourth quarter worth $227,000. Cipher Capital LP purchased a new position in Gentex during the fourth quarter worth $476,000. Amundi Pioneer Asset Management Inc. boosted its stake in Gentex by 35.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 146,684 shares of the auto parts company’s stock worth $2,965,000 after buying an additional 38,491 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Gentex by 1.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 67,180 shares of the auto parts company’s stock worth $1,358,000 after buying an additional 1,119 shares during the period. 82.58% of the stock is owned by institutional investors.
Gentex Company Profile
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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