B. Riley set a $29.00 target price on Gentex (NASDAQ:GNTX) in a research report sent to investors on Friday morning, TipRanks reports. The firm currently has a buy rating on the auto parts company’s stock.
A number of other brokerages also recently issued reports on GNTX. Longbow Research reaffirmed a hold rating on shares of Cooper Tire & Rubber in a research note on Sunday, July 7th. ValuEngine cut Vereit from a buy rating to a hold rating in a report on Friday. BidaskClub cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, July 11th. Zacks Investment Research cut Bridge Bancorp from a hold rating to a sell rating in a report on Tuesday. Finally, BMO Capital Markets reiterated a hold rating on shares of First Majestic Silver in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $23.66.
Shares of GNTX traded up $0.18 during midday trading on Friday, reaching $26.44. The company had a trading volume of 3,245,819 shares, compared to its average volume of 1,749,682. Gentex has a 1-year low of $17.80 and a 1-year high of $26.87. The company has a market capitalization of $6.76 billion, a PE ratio of 16.32, a PEG ratio of 3.69 and a beta of 1.21. The business has a 50 day simple moving average of $24.05.
Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Gentex had a return on equity of 23.08% and a net margin of 23.28%. The business had revenue of $468.71 million during the quarter, compared to the consensus estimate of $462.65 million. During the same period last year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that Gentex will post 1.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Tuesday, July 9th. Gentex’s dividend payout ratio is presently 28.40%.
In other news, insider Steven R. Downing sold 3,810 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $25.32, for a total transaction of $96,469.20. Following the completion of the transaction, the insider now directly owns 124,078 shares in the company, valued at approximately $3,141,654.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James A. Hollars sold 14,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $25.32, for a total value of $354,480.00. Following the transaction, the director now owns 51,707 shares of the company’s stock, valued at $1,309,221.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,293 shares of company stock valued at $832,283. Company insiders own 0.37% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV purchased a new position in shares of Gentex in the 1st quarter valued at about $27,000. Bremer Bank National Association acquired a new stake in shares of Gentex during the 1st quarter worth about $29,000. Icon Wealth Partners LLC acquired a new stake in shares of Gentex during the 1st quarter worth about $31,000. Carroll Financial Associates Inc. raised its position in shares of Gentex by 159.1% during the 2nd quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock worth $31,000 after acquiring an additional 789 shares in the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of Gentex during the 1st quarter worth about $33,000. Institutional investors own 82.58% of the company’s stock.
Gentex Company Profile
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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