In yesterday’s Wall Street session, Gentex Corporation (NASDAQ:GNTX) shares traded at $33.58, up 2.10% from the previous session.
As of this writing, 10 analysts cover Gentex Corporation (NASDAQ:GNTX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $40.00 and a low of $31.00, we find $37.00. Given the previous closing price of $32.89, this indicates a potential upside of 12.5 percent. GNTX stock price is now 16.26% away from the 50-day moving average and 20.46% away from the 200-day moving average. The market capitalization of the company currently stands at $7.58B.
There are 5 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $36.25 as their price target over the next twelve months.
With the price target enhanced from $26 to $33, BofA Securities Upgraded its rating from Underperform to Neutral for Gentex Corporation (NASDAQ: GNTX).
In other news, GOODE GARY F, Director sold 4,416 shares of the company’s stock on May 19. The stock was sold for $124,837 at an average price of $28.27. Upon completion of the transaction, the Director now directly owns 29,180 shares in the company, valued at $0.98 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 19, Director Hollars James A sold 4,416 shares of the business’s stock. A total of $124,837 was realized by selling the stock at an average price of $28.27. This leaves the insider owning 36,149 shares of the company worth $1.21 million. Insiders disposed of 115,314 shares of company stock worth roughly $3.87 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GNTX stock. A new stake in Gentex Corporation shares was purchased by BALYASNY ASSET MANAGEMENT L.P. during the first quarter worth $34,275,000. DEPRINCE RACE & ZOLLO INC invested $28,968,000 in shares of GNTX during the first quarter. In the first quarter, TRIODOS INVESTMENT MANAGEMENT BV acquired a new stake in Gentex Corporation valued at approximately $24,178,000. LOOMIS SAYLES & CO L P acquired a new stake in GNTX for approximately $19,871,000. ADAGE CAPITAL PARTNERS GP, L.L.C. purchased a new stake in GNTX valued at around $16,790,000 in the second quarter. In total, there are 649 active investors with 88.80% ownership of the company’s stock.
Monday morning saw Gentex Corporation (NASDAQ: GNTX) opened at $32.89. During the past 12 months, Gentex Corporation has had a low of $23.28 and a high of $33.30. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.40, and a quick ratio of 2.00. According to the stock market information, the enterprise value for the company is $7.43B, which is based on a 23.90 price-to-earnings ratio, a 1.51 price-to-earnings-growth ratio, and a beta of 0.94. The fifty day moving average price for GNTX is $29.00 and a two-hundred day moving average price translates $27.92 for the stock.
The latest earnings results from Gentex Corporation (NASDAQ: GNTX) was released for Mar, 2023. According to the Auto Parts Company, earnings per share came in at $0.47, beating analysts’ expectations of $0.41 by 0.06. This compares to $0.38 EPS in the same period last year. The net profit margin was 15.70% and return on equity was 15.30% for GNTX. The company reported revenue of $550.76 million for the quarter, compared to $468.25 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.62 percent. For the current quarter, analysts expect GNTX to generate $556.48M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/19/2023. Investors who held shares on 07/07/2023 were paid a $0.12 dividend. On an annualized basis, this represents a $0.48 dividend and a 1.43% percent yield. There was an ex-dividend date of 07/06/2023 for this dividend. In terms of dividend payout ratio, GNTX is presently at 35.30%.
Gentex Corporation(GNTX) 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, 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. It also provides variable dimmable windows to aircraft manufacturers and airline operators. In addition, the company offers photoelectric smoke detectors and alarms, electrochemical carbon monoxide alarms and detectors, audible and visual signaling alarms, and bells and speakers used in fire detection systems in office buildings, hotels, and other commercial and residential buildings, as well as researches and develops nanofiber chemical sensing products. It sells its fire protection products directly, as well as through sales managers and manufacturer representative organizations to fire protection and security product distributors, electrical wholesale houses, and original equipment manufacturers of fire protection systems. The company was incorporated in 1974 and is headquartered in Zeeland, Michigan.
