The Vanguard Group, Inc. recently announced the acquisition of new stake in Gentex Corporation (NASDAQ:GNTX). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.36% to 23.31 million shares with purchase of 0.31 million shares. This fresh investment now brings its stake to 9.95% valued currently at $665.49 million. In addition, BlackRock Fund Advisors raised its holdings by 0.92 million to 19.02 million shares. And Edgepoint Investment Group, Inc. has lifted its position by 0.13% or 11000.0 shares – to 8.62 million shares.
With over 1.87 million Gentex Corporation (GNTX) shares trading Monday and a closing price of $26.50 on the day, the dollar volume was approximately $49.46 million. The shares have shown a negative half year performance of -3.07% and its price on 03/13/23 lost nearly -1.63%. Currently, there are 234.18M common shares owned by the public and among those 233.01M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for GNTX have a consensus price objective of $31.67. The analysts have set the share’s price value over the next 12 months at a high of $35.00 and a low of $26.00. The average price target is 18.16% above its recent price level and a downside to the estimated low will see the stock lose -1.92% over that period. But an upside of 24.29% will see the stock hit the forecast high price target while median target price for the stock is $32.00.
Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 30 of these insider trades were purchases, accounting for 222,741 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 97,632 shares.
The top 3 mutual fund holders in Gentex Corporation are iShares Core S&P Mid Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Mid Cap ETF owns 7.32 million shares of the company’s stock, all valued at over $209.04 million. The company bought an additional 16596.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard Total Stock Market Index bought 40544.0 shares to see its total holdings expand to 7.2 million shares valued at over $205.5 million and representing 3.07% of the shares outstanding. Vanguard Small Cap Index Fund bought 33232.0 shares to bring its total holdings to over 6.08 million shares at a value of $173.51 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.60% of the shares outstanding.
Shares of Gentex Corporation (NASDAQ: GNTX) opened at $26.52, down -$0.42 from a prior closing price of $26.94. However, the script later moved the day high at 26.90, down -1.63%. The company’s stock has a 5-day price change of -7.02% and -3.64% over the past three months. GNTX shares are trading -2.82% year to date (YTD), with the 12-month market performance down to -7.34% lower. It has a 12-month low price of $23.28 and touched a high of $31.48 over the same period. GNTX has an average intraday trading volume of 1.20 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.35%, -6.99%, and -4.37% respectively.
Institutional ownership of Gentex Corporation (NASDAQ: GNTX) shares accounts for 88.80% of the company’s 234.18M shares outstanding. Mutual fund holders own 36.45%, while other institutional holders and individual stakeholders account for 49.85% and 0.98% respectively.
It has a market capitalization of $6.35B and a beta (3y monthly) value of 0.92. The stock’s trailing 12-month PE ratio is 19.53, while the earnings-per-share (ttm) stands at $1.36. The company has a PEG of 1.24 and a Quick Ratio of 2.20 with the debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.15% over the week and 1.91% over the month.
Analysts forecast that Gentex Corporation (GNTX) will achieve an EPS of $0.37 for the current quarter, $0.39 for the next quarter and $2.07 for 2024. The lowest estimate earnings-per-share for the quarter is $0.35 while analysts give the company a high EPS estimate of $0.4. Comparatively, EPS for the current quarter was $0.37 a year ago. Earnings per share for the fiscal year are expected to decrease by -9.60%, and 27.70% over the next financial year. EPS should grow at an annualized rate of 15.80% over the next five years, compared to -2.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Gentex Corporation (GNTX) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 3 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GNTX, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on December 14, 2022, with the firm’s price target at $24-$26. Robert W. Baird on their part issued Outperform rating on October 20, 2020.
