B. Riley Has Bullish Forecast for Gentex FY2024 Earnings

Gentex Co. (NASDAQ:GNTX - Free Report) - Equities research analysts at B. Riley increased their FY2024 EPS estimates for shares of Gentex in a report issued on Tuesday, January 21st. B. Riley analyst J. Nichols now forecasts that the auto parts company will post earnings of $1.84 per share for the year, up from their prior forecast of $1.82. The consensus estimate for Gentex's current full-year earnings is $1.86 per share. B. Riley also issued estimates for Gentex's Q4 2024 earnings at $0.46 EPS and FY2025 earnings at $2.01 EPS.

Several other research analysts have also issued reports on GNTX. Robert W. Baird increased their target price on Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a research report on Monday, October 28th. Bank of America lowered their target price on shares of Gentex from $39.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, October 14th. The Goldman Sachs Group lowered their price objective on Gentex from $33.00 to $31.00 and set a "neutral" rating for the company in a research note on Tuesday, October 1st. Finally, Guggenheim lowered their price target on Gentex from $35.00 to $34.00 and set a "buy" rating for the company in a research report on Thursday, November 21st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Gentex has an average rating of "Hold" and a consensus price target of $35.13.

Gentex Stock Down 0.3 %

Shares of GNTX traded down $0.09 during mid-day trading on Thursday, hitting $27.92. 1,095,373 shares of the company's stock traded hands, compared to its average volume of 1,525,203. The firm has a market capitalization of $6.35 billion, a P/E ratio of 14.95, a PEG ratio of 0.88 and a beta of 0.91. The business's 50-day moving average price is $29.23 and its 200-day moving average price is $30.09. Gentex has a 1 year low of $26.58 and a 1 year high of $37.58.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GNTX. Synergy Asset Management LLC bought a new stake in Gentex in the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its holdings in Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company's stock valued at $42,000 after acquiring an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in Gentex by 227.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company's stock valued at $54,000 after acquiring an additional 1,269 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Gentex in the third quarter worth $125,000. Finally, GAMMA Investing LLC lifted its position in shares of Gentex by 159.1% during the fourth quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company's stock worth $147,000 after purchasing an additional 3,152 shares during the last quarter. Institutional investors own 86.76% of the company's stock.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Wednesday, January 8th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 annualized dividend and a yield of 1.72%. Gentex's payout ratio is presently 25.67%.

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.