B. Riley Reiterates “Buy” Rating for Gentex (NASDAQ:GNTX)

B. Riley reaffirmed their buy rating on shares of Gentex (NASDAQ:GNTX) in a research note published on Monday,Benzinga reports. B. Riley currently has a $32.50 price objective on the auto parts company’s stock, down from their prior price objective of $37.00.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday. Robert W. Baird upped their price target on Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. Guggenheim cut their price objective on Gentex from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Finally, Bank of America decreased their target price on Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.06.

Gentex Price Performance

Shares of GNTX stock opened at $25.17 on Monday. Gentex has a fifty-two week low of $24.57 and a fifty-two week high of $37.58. The stock’s 50-day moving average is $28.94 and its two-hundred day moving average is $29.75. The firm has a market cap of $5.72 billion, a P/E ratio of 14.30, a PEG ratio of 0.86 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 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 posted $0.50 earnings per share. As a group, research analysts expect that Gentex will post 2.1 EPS for the current year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, January 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.91%. Gentex’s payout ratio is 27.27%.

Hedge Funds Weigh In On Gentex

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its holdings in shares of Gentex by 179.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company’s stock worth $59,404,000 after purchasing an additional 1,285,519 shares during the period. Bridgewater Associates LP raised its holdings in Gentex by 249.1% in the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company’s stock valued at $18,338,000 after acquiring an additional 440,725 shares in the last quarter. Cidel Asset Management Inc. bought a new stake in shares of Gentex in the 4th quarter worth approximately $11,815,000. Citigroup Inc. grew its holdings in shares of Gentex by 327.8% during the 3rd quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company’s stock worth $14,365,000 after purchasing an additional 370,746 shares in the last quarter. Finally, Lightrock Netherlands B.V. bought a new stake in shares of Gentex during the fourth quarter valued at approximately $9,443,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

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.