Gentex (NASDAQ:GNTX) Sets New 52-Week Low – Here’s What Happened

Gentex Co. (NASDAQ:GNTX)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $22.83 and last traded at $22.91, with a volume of 135899 shares. The stock had previously closed at $23.52.

Analysts Set New Price Targets

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

Gentex Trading Down 3.6 %

The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.84 and a beta of 0.90. The company has a 50 day moving average of $24.92 and a 200 day moving average of $27.93.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, January 31st. The auto parts company reported $0.39 earnings per share (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 business earned $0.50 earnings per share. Equities analysts forecast that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, April 9th. Gentex’s payout ratio is presently 27.27%.

Hedge Funds Weigh In On Gentex

A number of large investors have recently modified their holdings of GNTX. BNP Paribas Financial Markets grew its holdings in Gentex by 26.2% during the third quarter. BNP Paribas Financial Markets now owns 51,393 shares of the auto parts company’s stock worth $1,526,000 after purchasing an additional 10,658 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Gentex in the third quarter valued at approximately $366,000. Chevy Chase Trust Holdings LLC boosted its stake in shares of Gentex by 148.5% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 198,763 shares of the auto parts company’s stock worth $5,901,000 after acquiring an additional 118,781 shares during the period. Centiva Capital LP acquired a new position in shares of Gentex during the 3rd quarter worth approximately $806,000. Finally, Holocene Advisors LP raised its stake in Gentex by 701.2% in the 3rd quarter. Holocene Advisors LP now owns 91,703 shares of the auto parts company’s stock valued at $2,723,000 after acquiring an additional 80,258 shares during the period. 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.