Gentex Corporation (GNTX) Upgraded by BidaskClub to “Sell”
BidaskClub upgraded shares of Gentex Corporation (NASDAQ:GNTX) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.
Other equities analysts have also issued research reports about the company. Wellington Shields lowered Gentex Corporation from a gradually accumulate rating to a hold rating in a report on Thursday, May 4th. Craig Hallum lowered Gentex Corporation from a buy rating to a hold rating and set a $18.00 price target on the stock. in a report on Monday, July 24th. Robert W. Baird raised Gentex Corporation from a neutral rating to an outperform rating and raised their price target for the stock from $17.36 to $22.00 in a report on Thursday. BMO Capital Markets reissued an outperform rating and set a $22.00 price target (down previously from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. Finally, FBR & Co reissued an outperform rating and set a $25.00 price target on shares of Gentex Corporation in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $21.79.
Gentex Corporation (NASDAQ GNTX) traded up 0.22% on Friday, reaching $17.94. The company’s stock had a trading volume of 3,013,565 shares. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 14.24 and a beta of 1.18. Gentex Corporation has a 1-year low of $16.06 and a 1-year high of $22.12. The firm’s 50 day moving average price is $17.65 and its 200-day moving average price is $19.44.
Gentex Corporation (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The company had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $446.36 million. During the same period in the prior year, the business earned $0.30 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that Gentex Corporation will post $1.27 earnings per share for the current year.
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Gentex Corporation announced that its Board of Directors has authorized a share buyback plan on Wednesday, August 23rd that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, October 5th. Gentex Corporation’s dividend payout ratio is presently 31.50%.
In other Gentex Corporation news, Chairman Fred Bauer sold 239,400 shares of Gentex Corporation stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $17.33, for a total value of $4,148,802.00. Following the sale, the chairman now owns 5,771,128 shares of the company’s stock, valued at approximately $100,013,648.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Mulder sold 10,000 shares of Gentex Corporation stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $19.22, for a total value of $192,200.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in GNTX. Oak Associates Ltd. OH raised its stake in shares of Gentex Corporation by 12.6% in the second quarter. Oak Associates Ltd. OH now owns 232,290 shares of the auto parts company’s stock worth $4,407,000 after buying an additional 26,000 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Gentex Corporation during the second quarter worth $255,000. Disciplined Growth Investors Inc. MN raised its stake in shares of Gentex Corporation by 0.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 4,341,788 shares of the auto parts company’s stock worth $82,364,000 after buying an additional 33,375 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Gentex Corporation during the second quarter worth $195,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Gentex Corporation by 9.2% in the second quarter. Ameritas Investment Partners Inc. now owns 129,066 shares of the auto parts company’s stock worth $2,448,000 after buying an additional 10,875 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors.
Gentex Corporation 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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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