Gentex (NASDAQ:GNTX) Reaches New 1-Year Low on Disappointing Earnings

Gentex Co. (NASDAQ:GNTX - Get Free Report) reached a new 52-week low on Friday following a weaker than expected earnings announcement. The stock traded as low as $25.10 and last traded at $26.51, with a volume of 551311 shares changing hands. The stock had previously closed at $28.22.

The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.10). Gentex had a net margin of 18.37% and a return on equity of 18.25%. During the same quarter in the prior year, the firm earned $0.50 EPS.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.85%. Gentex's dividend payout ratio (DPR) is presently 25.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GNTX. Robert W. Baird boosted their price objective on shares of Gentex from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Monday, October 28th. Guggenheim lowered their target price on shares of Gentex from $35.00 to $34.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. Finally, Bank of America decreased their price objective on Gentex from $39.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Gentex has an average rating of "Hold" and a consensus target price of $35.13.

Institutional Trading of Gentex

A number of hedge funds have recently modified their holdings of GNTX. JPMorgan Chase & Co. raised its holdings in Gentex by 179.7% in the third quarter. JPMorgan Chase & Co. now owns 2,000,796 shares of the auto parts company's stock worth $59,404,000 after purchasing an additional 1,285,519 shares during the period. Bridgewater Associates LP grew its position in shares of Gentex by 249.1% in the 3rd quarter. Bridgewater Associates LP now owns 617,657 shares of the auto parts company's stock valued at $18,338,000 after purchasing an additional 440,725 shares during the period. Cidel Asset Management Inc. bought a new stake in Gentex during the 4th quarter worth approximately $11,815,000. Citigroup Inc. lifted its stake in Gentex by 327.8% in the third quarter. Citigroup Inc. now owns 483,842 shares of the auto parts company's stock valued at $14,365,000 after buying an additional 370,746 shares in the last quarter. Finally, Lightrock Netherlands B.V. acquired a new position in shares of Gentex in the fourth quarter valued at approximately $9,443,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

Gentex Price Performance

The company has a market cap of $5.91 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.92 and a beta of 0.91. The company's 50-day moving average price is $29.03 and its 200-day moving average price is $29.88.

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.

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