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

Gentex Co. (NASDAQ:GNTX)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $24.55 and last traded at $24.86, with a volume of 33031 shares traded. The stock had previously closed at $24.81.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. UBS Group lowered their price objective on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. B. Riley reaffirmed a “buy” rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Finally, Bank of America reduced their price objective on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note 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’s stock. According to MarketBeat, Gentex currently has an average rating of “Hold” and a consensus price target of $33.06.

Gentex Price Performance

The firm has a fifty day moving average price of $28.27 and a 200-day moving average price of $29.41. The company has a market capitalization of $5.66 billion, a P/E ratio of 14.13, a price-to-earnings-growth ratio of 0.86 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last announced its earnings results 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 net margin of 17.49% and a return on equity of 16.74%. During the same period in the previous year, the business earned $0.50 EPS. On average, research analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Announces Dividend

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

Hedge Funds Weigh In On Gentex

Several institutional investors have recently bought and sold shares of the company. Magnetar Financial LLC purchased a new position in shares of Gentex during the 4th quarter valued at $454,000. Brooklyn FI LLC purchased a new stake in shares of Gentex during the 4th quarter valued at approximately $278,000. Xponance Inc. lifted its holdings in Gentex by 5.3% during the 4th quarter. Xponance Inc. now owns 26,135 shares of the auto parts company’s stock worth $751,000 after purchasing an additional 1,307 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Gentex by 33.7% in the fourth quarter. Intech Investment Management LLC now owns 38,010 shares of the auto parts company’s stock worth $1,092,000 after purchasing an additional 9,585 shares during the last quarter. Finally, Jensen Investment Management Inc. raised its stake in Gentex by 4.0% in the fourth quarter. Jensen Investment Management Inc. now owns 178,920 shares of the auto parts company’s stock valued at $5,140,000 after purchasing an additional 6,800 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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.