Gentex (NASDAQ:GNTX) Lowered to “Strong Sell” at BidaskClub

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BidaskClub downgraded shares of Gentex (NASDAQ:GNTX) from a sell rating to a strong sell rating in a report published on Saturday morning, BidAskClub reports.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Gentex from $25.00 to $28.00 and gave the stock a neutral rating in a research note on Friday, June 19th. Zacks Investment Research cut shares of Gentex from a hold rating to a sell rating and set a $26.00 target price for the company. in a report on Tuesday, April 28th. Goldman Sachs Group initiated coverage on shares of Gentex in a research note on Tuesday, April 14th. They set a sell rating and a $19.00 price target for the company. Robert W. Baird upgraded shares of Gentex from a neutral rating to an outperform rating and upped their price objective for the stock from $27.00 to $32.00 in a research report on Monday, June 1st. Finally, B. Riley reiterated a buy rating and issued a $32.00 price target on shares of Gentex in a report on Monday, June 29th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $29.38.

Gentex stock opened at $25.56 on Friday. The company’s 50 day simple moving average is $26.36 and its 200-day simple moving average is $26.52. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 15.88 and a beta of 1.14. Gentex has a 1 year low of $19.48 and a 1 year high of $31.27.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. The business had revenue of $453.76 million for the quarter, compared to the consensus estimate of $430.65 million. Gentex had a net margin of 22.23% and a return on equity of 21.58%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. As a group, equities research analysts forecast that Gentex will post 1.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Friday, July 10th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, July 9th. Gentex’s dividend payout ratio (DPR) is presently 28.92%.

A number of hedge funds and other institutional investors have recently bought and sold shares of GNTX. BancorpSouth Bank grew its stake in shares of Gentex by 1.8% in the 1st quarter. BancorpSouth Bank now owns 24,905 shares of the auto parts company’s stock valued at $552,000 after buying an additional 440 shares in the last quarter. Chesapeake Wealth Management boosted its holdings in Gentex by 0.9% in the first quarter. Chesapeake Wealth Management now owns 47,968 shares of the auto parts company’s stock valued at $1,063,000 after acquiring an additional 442 shares during the last quarter. Cigna Investments Inc. New lifted its stake in Gentex by 0.6% in the first quarter. Cigna Investments Inc. New now owns 70,767 shares of the auto parts company’s stock valued at $1,569,000 after buying an additional 450 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in Gentex by 1.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 34,910 shares of the auto parts company’s stock valued at $774,000 after buying an additional 461 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Gentex by 0.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 71,295 shares of the auto parts company’s stock valued at $2,066,000 after buying an additional 481 shares during the period. Hedge funds and other institutional investors own 82.13% of the company’s stock.

About Gentex

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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