Gentex (NASDAQ:GNTX) Shares Gap Up - Time to Buy?

Gentex Co. (NASDAQ:GNTX - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $29.66, but opened at $31.00. Gentex shares last traded at $31.10, with a volume of 343,200 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GNTX shares. UBS Group initiated coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a "neutral" rating and a $34.00 target price for the company. JPMorgan Chase & Co. decreased their target price on Gentex from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Monday, July 22nd. StockNews.com lowered Gentex from a "buy" rating to a "hold" rating in a report on Thursday, July 4th. Bank of America cut their price target on Gentex from $39.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, October 14th. Finally, Robert W. Baird lowered their price objective on shares of Gentex from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Gentex currently has a consensus rating of "Hold" and a consensus target price of $36.13.

Gentex Stock Up 5.4 %

The firm has a 50-day moving average of $29.90 and a 200 day moving average of $32.25. The stock has a market capitalization of $7.22 billion, a P/E ratio of 16.53, a PEG ratio of 0.95 and a beta of 0.92.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The business had revenue of $572.93 million for the quarter, compared to the consensus estimate of $623.28 million. Analysts predict that Gentex Co. will post 1.96 EPS for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, October 9th. Gentex's dividend payout ratio is 25.40%.

Insider Buying and Selling at Gentex

In related news, major shareholder Corp Gentex purchased 3,152,500 shares of the stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares of the company's stock, valued at approximately $32,319,040. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On Gentex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Phoenix Wealth Advisors grew its holdings in shares of Gentex by 3.1% during the second quarter. Phoenix Wealth Advisors now owns 10,196 shares of the auto parts company's stock worth $344,000 after purchasing an additional 306 shares during the last quarter. Toronto Dominion Bank grew its holdings in Gentex by 0.9% during the 1st quarter. Toronto Dominion Bank now owns 42,346 shares of the auto parts company's stock worth $1,530,000 after acquiring an additional 370 shares during the last quarter. JLB & Associates Inc. increased its position in Gentex by 1.7% in the 1st quarter. JLB & Associates Inc. now owns 24,381 shares of the auto parts company's stock valued at $881,000 after acquiring an additional 416 shares in the last quarter. United Services Automobile Association raised its stake in shares of Gentex by 2.5% in the second quarter. United Services Automobile Association now owns 17,447 shares of the auto parts company's stock worth $588,000 after acquiring an additional 427 shares during the last quarter. Finally, Harfst & Associates Inc. lifted its position in shares of Gentex by 0.7% during the second quarter. Harfst & Associates Inc. now owns 66,692 shares of the auto parts company's stock worth $2,248,000 after purchasing an additional 450 shares in the last quarter. 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.