Gentex (NASDAQ:GNTX) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of Gentex (NASDAQ:GNTX) from a sell rating to a hold rating in a research report report published on Tuesday, July 30th, BidAskClub reports.

A number of other research analysts have also commented on the company. BMO Capital Markets lowered their price objective on Gentex from $26.00 to $25.00 and set an outperform rating on the stock in a report on Tuesday, April 2nd. Longbow Research reissued a hold rating on shares of Gentex in a report on Sunday, July 7th. Zacks Investment Research raised Gentex from a sell rating to a hold rating and set a $28.00 price objective on the stock in a report on Tuesday, July 23rd. ValuEngine upgraded Gentex from a hold rating to a buy rating in a research note on Friday, July 19th. Finally, B. Riley set a $29.00 target price on Gentex and gave the company a buy rating in a research note on Friday, July 19th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $23.66.

NASDAQ:GNTX opened at $25.94 on Tuesday. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 3.21 and a beta of 1.22. Gentex has a 1-year low of $17.80 and a 1-year high of $27.94. The business’s fifty day moving average price is $25.69 and its 200 day moving average price is $22.70.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.02. Gentex had a return on equity of 23.08% and a net margin of 23.28%. The company had revenue of $468.71 million for the quarter, compared to analyst estimates of $462.65 million. During the same period in the prior year, the firm posted $0.40 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gentex will post 1.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were given a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.77%. Gentex’s dividend payout ratio is currently 28.40%.

In related news, VP Matthew Chiodo sold 5,560 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $27.07, for a total transaction of $150,509.20. Following the completion of the sale, the vice president now directly owns 30,776 shares of the company’s stock, valued at approximately $833,106.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary F. Goode sold 2,586 shares of Gentex stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $27.60, for a total value of $71,373.60. Following the completion of the sale, the director now directly owns 22,989 shares of the company’s stock, valued at $634,496.40. The disclosure for this sale can be found here. Insiders sold a total of 36,394 shares of company stock valued at $937,122 in the last quarter. Corporate insiders own 0.37% of the company’s stock.

Large investors have recently bought and sold shares of the company. Country Trust Bank lifted its holdings in Gentex by 1.9% during the second quarter. Country Trust Bank now owns 1,026,687 shares of the auto parts company’s stock worth $25,267,000 after acquiring an additional 18,937 shares in the last quarter. Boston Partners bought a new position in Gentex during the first quarter worth about $76,910,000. Fort L.P. lifted its holdings in shares of Gentex by 38.9% in the first quarter. Fort L.P. now owns 80,992 shares of the auto parts company’s stock valued at $1,675,000 after purchasing an additional 22,700 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Gentex by 86.3% in the second quarter. State of Alaska Department of Revenue now owns 55,685 shares of the auto parts company’s stock valued at $1,369,000 after purchasing an additional 25,793 shares in the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Gentex by 4.0% in the first quarter. Wedge Capital Management L L P NC now owns 662,155 shares of the auto parts company’s stock valued at $13,693,000 after purchasing an additional 25,761 shares in the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.

Gentex Company Profile

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, 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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