Gentex (NASDAQ:GNTX) Sets New 1-Year Low – Should You Sell?

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GNTX. Guggenheim set a $30.00 target price on Gentex in a research report on Wednesday, March 5th. UBS Group dropped their price target on shares of Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. B. Riley restated a “buy” rating and issued a $32.50 target price (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Robert W. Baird set a $31.00 price target on shares of Gentex in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.81.

Gentex Stock Up 0.6 %

The business’s fifty day moving average is $25.65 and its two-hundred day moving average is $28.36. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.84 and a beta of 0.90.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a net margin of 17.49% and a return on equity of 16.74%. During the same period last year, the firm earned $0.50 earnings per share. Research analysts forecast that Gentex Co. will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The firm 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 dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.01%. Gentex’s payout ratio is presently 27.27%.

Institutional Investors Weigh In On Gentex

Several institutional investors have recently modified their holdings of GNTX. JPMorgan Chase & Co. boosted its stake in Gentex by 162.4% in the fourth 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 during the last quarter. Norges Bank acquired a new position in shares of Gentex in the 4th quarter valued at $51,959,000. Wellington Management Group LLP boosted its position in shares of 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 worth $517,802,000 after purchasing an additional 1,038,912 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Gentex during the fourth quarter worth $24,479,000. Finally, American Century Companies Inc. increased its holdings in Gentex by 66.9% in the fourth quarter. American Century Companies Inc. now owns 1,657,397 shares of the auto parts company’s stock valued at $47,617,000 after purchasing an additional 664,389 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

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.