Gentex Corp. (GNTX) Stock Rating Upgraded by Zacks Investment Research
Gentex Corp. (NASDAQ:GNTX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $20.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 10.86% from the stock’s current price.
According to Zacks, “Gentex Corporation is an international company that provides high-quality products to the worldwide automotive industry and North American fire protection market. The Company develops, manufactures and markets proprietary electro-optic products, including interior and exterior electrochromic, automatic-dimming Night Vision Safety automotive rearview mirrors that dim in proportion to the amount of headlight glare from trailing vehicle headlamps, and an extensive line of fire protection products for commercial applications. “
A number of other brokerages have also weighed in on GNTX. Wells Fargo & Co. reissued an “outperform” rating and issued a $19.00 target price on shares of Gentex Corp. in a research report on Tuesday, September 13th. FBR & Co reissued an “outperform” rating on shares of Gentex Corp. in a research report on Thursday, November 10th.
Shares of Gentex Corp. (NASDAQ:GNTX) opened at 18.04 on Wednesday. The stock has a market capitalization of $5.17 billion, a P/E ratio of 15.02 and a beta of 0.84. The stock has a 50 day moving average of $17.22 and a 200-day moving average of $16.88. Gentex Corp. has a one year low of $12.93 and a one year high of $18.30.
Gentex Corp. (NASDAQ:GNTX) last issued its earnings results on Thursday, October 20th. The company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. Gentex Corp. had a return on equity of 19.53% and a net margin of 20.86%. The business earned $429.60 million during the quarter, compared to analyst estimates of $428.43 million. During the same quarter in the previous year, the firm earned $0.27 EPS. Gentex Corp.’s revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Gentex Corp. will post $1.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 19th. Shareholders of record on Friday, October 7th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, October 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.00%. Gentex Corp.’s dividend payout ratio is currently 30.00%.
In other Gentex Corp. news, Director James H. Wallace sold 12,000 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $16.78, for a total transaction of $201,360.00. Following the completion of the sale, the director now directly owns 29,400 shares in the company, valued at approximately $493,332. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kevin C. Nash sold 6,210 shares of the business’s stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $16.68, for a total value of $103,582.80. Following the sale, the insider now owns 31,830 shares of the company’s stock, valued at $530,924.40. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. bought a new position in shares of Gentex Corp. during the third quarter worth about $114,000. I.G. Investment Management LTD. increased its position in shares of Gentex Corp. by 9.4% in the second quarter. I.G. Investment Management LTD. now owns 10,107 shares of the company’s stock worth $156,000 after buying an additional 865 shares during the period. CrestPoint Capital Management LLC increased its position in shares of Gentex Corp. by 4.0% in the third quarter. CrestPoint Capital Management LLC now owns 10,500 shares of the company’s stock worth $184,000 after buying an additional 400 shares during the period. Mizuho Asset Management Co. Ltd. bought a new position in shares of Gentex Corp. during the second quarter worth about $189,000. Finally, Dearborn Partners LLC bought a new position in shares of Gentex Corp. during the second quarter worth about $190,000. Institutional investors own 86.47% of the company’s stock.
Gentex Corp. Company Profile
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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