Gentex Corporation (NASDAQ:GNTX) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday, July 27th.
GNTX has been the topic of several other reports. Zacks Investment Research upgraded shares of Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, April 26th. FBR & Co reiterated an “outperform” rating and set a $25.00 target price on shares of Gentex Corporation in a report on Monday, July 24th. Craig Hallum cut shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 target price on the stock. in a report on Monday, July 24th. BMO Capital Markets reiterated an “outperform” rating and set a $22.00 target price (down from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. Finally, Wellington Shields cut shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $21.75.
Shares of Gentex Corporation (NASDAQ:GNTX) traded up 0.69% during midday trading on Thursday, hitting $17.44. 2,744,192 shares of the stock were exchanged. Gentex Corporation has a 12 month low of $16.06 and a 12 month high of $22.12. The firm has a 50 day moving average of $18.13 and a 200-day moving average of $19.82. The stock has a market cap of $5.00 billion, a P/E ratio of 13.84 and a beta of 1.18.
Gentex Corporation (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ 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 during 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 company’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts anticipate that Gentex Corporation will post $1.27 EPS for the current year.
In related news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Gentex Corporation by 13,551.0% in the first quarter. BlackRock Inc. now owns 23,213,469 shares of the auto parts company’s stock valued at $495,146,000 after buying an additional 23,043,420 shares during the last quarter. Pictet Asset Management Ltd. purchased a new position in shares of Gentex Corporation during the first quarter valued at approximately $33,360,000. Nomura Asset Management Co. Ltd. increased its position in shares of Gentex Corporation by 115,526.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 1,503,150 shares of the auto parts company’s stock valued at $32,062,000 after buying an additional 1,501,850 shares during the last quarter. Provident Investment Management Inc. purchased a new position in shares of Gentex Corporation during the first quarter valued at approximately $24,307,000. Finally, Schroder Investment Management Group increased its position in shares of Gentex Corporation by 76.4% in the first quarter. Schroder Investment Management Group now owns 2,522,357 shares of the auto parts company’s stock valued at $53,953,000 after buying an additional 1,092,399 shares during the last quarter. Institutional investors own 82.40% of the company’s stock.
About Gentex Corporation
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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