Guggenheim Issues Pessimistic Forecast for Gentex (NASDAQ:GNTX) Stock Price

Gentex (NASDAQ:GNTX) had its price objective cut by Guggenheim from $35.00 to $34.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the auto parts company’s stock.

A number of other research firms have also commented on GNTX. The Goldman Sachs Group lowered their price target on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Robert W. Baird boosted their price objective on shares of Gentex from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Bank of America reduced their price target on Gentex from $39.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. UBS Group began coverage on Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective on the stock. Finally, BNP Paribas lowered Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Gentex currently has an average rating of “Hold” and a consensus target price of $35.13.

Gentex Trading Up 1.7 %

Gentex stock opened at $30.40 on Thursday. The company has a fifty day simple moving average of $29.92 and a 200 day simple moving average of $31.61. The company has a market cap of $6.91 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. Gentex has a 1-year low of $28.30 and a 1-year high of $37.58.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 1.58%. Gentex’s dividend payout ratio is currently 25.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GNTX. Quest Partners LLC purchased a new position in Gentex in the second quarter valued at approximately $31,000. Gladius Capital Management LP bought a new position in shares of Gentex during the 2nd quarter worth $34,000. EverSource Wealth Advisors LLC increased its holdings in Gentex by 173.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock worth $42,000 after acquiring an additional 850 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 period. Finally, HHM Wealth Advisors LLC purchased a new stake in Gentex during the second quarter valued at about $67,000. 86.76% of the stock is owned by institutional investors.

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.