Gentex (NASDAQ:GNTX) Reaches New 1-Year Low – What’s Next?

Shares of Gentex Co. (NASDAQ:GNTX) hit a new 52-week low on Thursday . The company traded as low as $23.50 and last traded at $23.91, with a volume of 72023 shares trading hands. The stock had previously closed at $23.79.

Analyst Ratings Changes

A number of analysts have issued reports on GNTX shares. B. Riley reaffirmed a “buy” rating and issued a $32.50 target price (down 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. UBS Group cut their target price on 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. cut 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. Finally, Guggenheim set a $30.00 target price on Gentex in a research note on Wednesday, March 5th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Gentex presently has an average rating of “Hold” and an average price target of $31.81.

Gentex Stock Performance

The business has a 50-day moving average of $25.53 and a 200-day moving average of $28.27. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 0.84 and a beta of 0.90.

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 return on equity of 16.74% and a net margin of 17.49%. During the same period last year, the company earned $0.50 EPS. Equities analysts predict 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 will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, April 9th. 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 GNTX. JPMorgan Chase & Co. grew its position in Gentex by 162.4% in the 4th quarter. JPMorgan Chase & Co. now owns 5,249,230 shares of the auto parts company’s stock valued at $150,810,000 after acquiring an additional 3,248,434 shares in the last quarter. Norges Bank acquired a new position in Gentex in the 4th quarter valued at about $51,959,000. Wellington Management Group LLP grew its position in Gentex by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 18,023,056 shares of the auto parts company’s stock valued at $517,802,000 after acquiring an additional 1,038,912 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Gentex in the 4th quarter valued at about $24,479,000. Finally, American Century Companies Inc. boosted its stake in shares of Gentex by 66.9% in the 4th quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock valued at $47,617,000 after buying an additional 664,389 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

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.