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

Gentex Co. (NASDAQ:GNTX)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $24.10 and last traded at $24.50, with a volume of 2010556 shares trading hands. The stock had previously closed at $24.37.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GNTX. B. Riley reissued a “buy” rating and set a $32.50 target price (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Robert W. Baird set a $31.00 target price on Gentex in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. UBS Group reduced their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, Guggenheim dropped their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Gentex presently has a consensus rating of “Hold” and an average target price of $32.31.

Gentex Trading Down 0.8 %

The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.84 and a beta of 0.91. The company has a fifty day moving average of $26.90 and a two-hundred day moving average of $28.96.

Gentex (NASDAQ:GNTX) last posted its earnings results 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 quarter last year, the business earned $0.50 earnings per share. As a group, sell-side analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.97%. Gentex’s payout ratio is 27.27%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC acquired a new stake in shares of Gentex in the fourth quarter worth $26,000. TD Private Client Wealth LLC boosted its holdings in 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 purchasing an additional 662 shares during the period. Synergy Asset Management LLC acquired a new stake in Gentex in the 4th quarter worth $34,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Gentex by 32.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock worth $70,000 after purchasing an additional 593 shares during the last quarter. Finally, LRI Investments LLC increased its holdings in shares of Gentex by 33.2% during the 4th quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company’s stock worth $79,000 after purchasing an additional 686 shares during the period. 86.76% of the stock is owned by institutional investors.

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.