Gentex (NASDAQ:GNTX) Shares Gap Up - Should You Buy?

Gentex Co. (NASDAQ:GNTX - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $21.97, but opened at $22.67. Gentex shares last traded at $21.55, with a volume of 155,049 shares trading hands.

Analysts Set New Price Targets

GNTX has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. UBS Group cut their price target on shares of Gentex from $29.00 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Guggenheim decreased their price objective on Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird restated a "neutral" rating and issued a $25.00 target price (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Finally, B. Riley reiterated a "buy" rating and set a $32.50 price target (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $28.31.

Gentex Trading Up 2.0 %

The company has a market capitalization of $4.93 billion, a PE ratio of 12.38, a PEG ratio of 0.84 and a beta of 0.84. The business has a fifty day moving average of $23.23 and a 200 day moving average of $26.85.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The business had revenue of $576.77 million during the quarter, compared to analyst estimates of $578.68 million. During the same quarter last year, the firm posted $0.47 earnings per share. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities analysts forecast that Gentex Co. will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, April 9th. Gentex's dividend payout ratio is currently 28.07%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its stake in shares of Gentex by 54.4% in the 3rd quarter. Barclays PLC now owns 107,930 shares of the auto parts company's stock valued at $3,205,000 after buying an additional 38,027 shares during the period. Virtu Financial LLC purchased a new position in Gentex in the third quarter worth approximately $326,000. Wilmington Savings Fund Society FSB acquired a new position in Gentex during the 3rd quarter worth approximately $125,000. Tidal Investments LLC increased its position in shares of Gentex by 1.2% in the 3rd quarter. Tidal Investments LLC now owns 59,958 shares of the auto parts company's stock valued at $1,780,000 after purchasing an additional 736 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in shares of Gentex by 119.8% in the 3rd quarter. Synovus Financial Corp now owns 47,136 shares of the auto parts company's stock valued at $1,400,000 after purchasing an additional 25,693 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

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.