Gentex (NASDAQ:GNTX) Given New $37.00 Price Target at Robert W. Baird

Gentex (NASDAQ:GNTX) had its price target lifted by Robert W. Baird from $35.00 to $37.00 in a research report sent to investors on Monday, Benzinga reports. Robert W. Baird currently has an outperform rating on the auto parts company’s stock.

A number of other equities research analysts also recently issued reports on the company. BNP Paribas downgraded Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, July 30th. JPMorgan Chase & Co. cut their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. The Goldman Sachs Group lowered their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Bank of America cut their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Gentex Price Performance

GNTX opened at $31.30 on Monday. The business has a 50 day simple moving average of $29.95 and a two-hundred day simple moving average of $32.15. Gentex has a one year low of $27.86 and a one year high of $37.58. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.91 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The firm had revenue of $572.93 million for the quarter, compared to analysts’ expectations of $623.28 million. As a group, sell-side analysts expect that Gentex will post 1.94 EPS for the current fiscal year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.12 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.53%. Gentex’s payout ratio is 25.40%.

Insiders Place Their Bets

In other news, major shareholder Corp Gentex purchased 3,152,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gentex

A number of large investors have recently bought and sold shares of the business. Scharf Investments LLC increased its holdings in shares of Gentex by 36,001.4% in the 2nd quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock valued at $76,803,000 after acquiring an additional 2,272,046 shares during the period. TD Asset Management Inc raised its holdings in Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after purchasing an additional 1,363,898 shares in the last quarter. Motley Fool Asset Management LLC lifted its position in shares of Gentex by 287.7% during the first quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock valued at $43,494,000 after buying an additional 893,552 shares during the last quarter. Leeward Investments LLC MA bought a new stake in shares of Gentex in the 1st quarter valued at about $28,289,000. Finally, Epoch Investment Partners Inc. grew its position in shares of Gentex by 32.6% in the 1st quarter. Epoch Investment Partners Inc. now owns 2,963,250 shares of the auto parts company’s stock worth $107,033,000 after buying an additional 727,913 shares during the last quarter. 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.