Gentex Corp. (GNTX) Lowered to Hold at Zacks Investment Research
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. “
GNTX has been the topic of several other reports. FBR & Co raised their target price on Gentex Corp. from $20.00 to $22.00 and gave the company an outperform rating in a report on Friday, October 21st. Wells Fargo & Co. reiterated an outperform rating and set a $19.00 target price on shares of Gentex Corp. in a report on Tuesday, September 13th.
Shares of Gentex Corp. (NASDAQ:GNTX) opened at 18.16 on Monday. The stock has a market cap of $5.20 billion, a PE ratio of 15.12 and a beta of 0.84. Gentex Corp. has a 52 week low of $12.93 and a 52 week high of $18.30. The firm has a 50-day moving average price of $17.25 and a 200-day moving average price of $16.92.
Gentex Corp. (NASDAQ:GNTX) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $429.60 million for the quarter, compared to the consensus estimate of $428.43 million. Gentex Corp. had a return on equity of 19.53% and a net margin of 20.86%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $0.27 EPS. On average, analysts forecast that Gentex Corp. will post $1.21 earnings per share for the current fiscal year.
In other Gentex Corp. news, Director James H. Wallace sold 12,000 shares of Gentex Corp. stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $16.78, for a total transaction of $201,360.00. Following the sale, the director now owns 29,400 shares of the company’s stock, valued at approximately $493,332. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin C. Nash sold 6,210 shares of Gentex Corp. stock in a transaction on 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 directly owns 31,830 shares in the company, valued at approximately $530,924.40. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Hussman Strategic Advisors Inc. acquired a new stake in shares of Gentex Corp. during the third quarter valued at $114,000. I.G. Investment Management LTD. increased its stake 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 valued at $156,000 after buying an additional 865 shares during the last quarter. CrestPoint Capital Management LLC increased its stake 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 valued at $184,000 after buying an additional 400 shares during the last quarter. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of Gentex Corp. during the second quarter valued at $189,000. Finally, Dearborn Partners LLC acquired a new stake in shares of Gentex Corp. during the second quarter valued at $190,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
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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