Gentex (NASDAQ:GNTX) Hits New 1-Year Low on Disappointing Earnings

Gentex Co. (NASDAQ:GNTX) shares hit a new 52-week low during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $25.10 and last traded at $26.51, with a volume of 551311 shares trading hands. The stock had previously closed at $28.22.

The auto parts company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a return on equity of 18.25% and a net margin of 18.37%. During the same period in the previous year, the business earned $0.50 earnings per share.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Wednesday, January 8th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Wednesday, January 8th. Gentex’s dividend payout ratio (DPR) is 25.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GNTX shares. Robert W. Baird increased their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. Guggenheim lowered their target price on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, Bank of America lowered their price objective on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Gentex presently has a consensus rating of “Hold” and a consensus target price of $35.13.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its position in shares of Gentex by 6.3% in the second quarter. AQR Capital Management LLC now owns 140,831 shares of the auto parts company’s stock valued at $4,725,000 after purchasing an additional 8,374 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Gentex by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 209,219 shares of the auto parts company’s stock valued at $7,053,000 after acquiring an additional 3,764 shares in the last quarter. Creative Planning lifted its position in shares of Gentex by 4.1% during the second quarter. Creative Planning now owns 60,685 shares of the auto parts company’s stock worth $2,046,000 after purchasing an additional 2,393 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Gentex by 22.9% in the 2nd quarter. Cetera Investment Advisers now owns 157,214 shares of the auto parts company’s stock worth $5,300,000 after acquiring an additional 29,338 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Gentex by 212.4% during the third quarter. SG Americas Securities LLC now owns 31,632 shares of the auto parts company’s stock valued at $939,000 after purchasing an additional 21,508 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Down 8.2 %

The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 0.92 and a beta of 0.91. The firm’s 50 day moving average is $28.94 and its two-hundred day moving average is $29.82.

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.