Jefferies Financial Group Initiates Coverage on Gentex (GNTX)

Jefferies Financial Group assumed coverage on shares of Gentex (NASDAQ:GNTX) in a report issued on Tuesday, Marketbeat reports. The firm issued a hold rating and a $24.00 price objective on the auto parts company’s stock. Jefferies Financial Group also issued estimates for Gentex’s Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.64 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.77 EPS and FY2020 earnings at $1.97 EPS.

A number of other equities research analysts have also recently issued reports on the company. ValuEngine upgraded Gentex from a sell rating to a hold rating in a report on Monday, October 22nd. Craig Hallum restated a hold rating and set a $20.00 price objective on shares of Gentex in a report on Friday, October 19th. Zacks Investment Research cut Gentex from a hold rating to a sell rating in a report on Tuesday, September 18th. BidaskClub cut Gentex from a buy rating to a hold rating in a report on Wednesday, September 5th. Finally, Longbow Research set a $28.00 price objective on Gentex and gave the stock a buy rating in a report on Friday, August 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Gentex presently has an average rating of Hold and an average price target of $24.44.

Gentex stock opened at $21.01 on Tuesday. Gentex has a 52 week low of $17.80 and a 52 week high of $25.41. The stock has a market cap of $5.68 billion, a P/E ratio of 13.97, a price-to-earnings-growth ratio of 1.17 and a beta of 1.14.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, October 19th. The auto parts company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Gentex had a return on equity of 21.83% and a net margin of 25.11%. The business had revenue of $460.25 million during the quarter, compared to analysts’ expectations of $465.51 million. During the same quarter last year, the company posted $0.31 earnings per share. Gentex’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Gentex will post 1.65 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Stockholders of record on Wednesday, January 9th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Tuesday, January 8th. Gentex’s dividend payout ratio is presently 34.38%.

In other news, CFO Kevin C. Nash sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $21.50, for a total transaction of $129,000.00. Following the completion of the sale, the chief financial officer now owns 32,732 shares in the company, valued at $703,738. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have bought 1,155 shares of company stock valued at $23,237. Corporate insiders own 0.60% of the company’s stock.

Several large investors have recently modified their holdings of GNTX. BlackRock Inc. boosted its stake in shares of Gentex by 1.1% in the second quarter. BlackRock Inc. now owns 24,291,053 shares of the auto parts company’s stock valued at $559,180,000 after buying an additional 258,850 shares during the period. Vanguard Group Inc. boosted its stake in shares of Gentex by 1.1% in the third quarter. Vanguard Group Inc. now owns 24,110,056 shares of the auto parts company’s stock valued at $517,401,000 after buying an additional 272,847 shares during the period. FMR LLC boosted its stake in shares of Gentex by 22.6% in the second quarter. FMR LLC now owns 10,889,141 shares of the auto parts company’s stock valued at $250,668,000 after buying an additional 2,008,953 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Gentex by 8.7% in the third quarter. Dimensional Fund Advisors LP now owns 5,835,625 shares of the auto parts company’s stock valued at $125,230,000 after buying an additional 467,548 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Gentex by 24.5% in the third quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock valued at $106,585,000 after buying an additional 976,219 shares during the period. Institutional investors own 85.83% of the company’s stock.

Gentex Company Profile

Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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Analyst Recommendations for Gentex (NASDAQ:GNTX)

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