B. Riley Has Bullish Estimate for Gentex FY2024 Earnings

Gentex Co. (NASDAQ:GNTX) – Investment analysts at B. Riley lifted their FY2024 EPS estimates for shares of Gentex in a report issued on Tuesday, January 21st. B. Riley analyst J. Nichols now anticipates that the auto parts company will post earnings of $1.84 per share for the year, up from their previous estimate of $1.82. The consensus estimate for Gentex’s current full-year earnings is $1.86 per share. B. Riley also issued estimates for Gentex’s Q4 2024 earnings at $0.46 EPS and FY2025 earnings at $2.01 EPS.

Several other brokerages have also recently weighed in on GNTX. Bank of America decreased their price target on shares of Gentex from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Robert W. Baird increased their target price on shares of Gentex from $35.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. 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 note on Tuesday, October 1st. Finally, Guggenheim reduced their price objective on shares of Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.13.

Gentex Stock Performance

NASDAQ:GNTX opened at $28.01 on Thursday. The company has a market cap of $6.37 billion, a PE ratio of 14.98, a PEG ratio of 0.88 and a beta of 0.91. The stock has a 50-day simple moving average of $29.29 and a 200 day simple moving average of $30.11. Gentex has a 52-week low of $26.58 and a 52-week high of $37.58.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Wednesday, January 8th were issued a $0.12 dividend. The ex-dividend date was Wednesday, January 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%. Gentex’s payout ratio is 25.67%.

Institutional Investors Weigh In On Gentex

Several hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Gentex by 173.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after buying an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock worth $54,000 after acquiring an additional 1,269 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Gentex in the 3rd quarter valued at $125,000. GAMMA Investing LLC lifted its holdings in Gentex by 159.1% during the 4th quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock valued at $147,000 after purchasing an additional 3,152 shares during the last quarter. Finally, KBC Group NV boosted its position in Gentex by 13.3% during the third quarter. KBC Group NV now owns 5,664 shares of the auto parts company’s stock worth $168,000 after purchasing an additional 667 shares during the period. 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.