Gentex (NASDAQ:GNTX) Lowered to Hold at Zacks Investment Research

Gentex (NASDAQ:GNTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, January 5th.

According to Zacks, “Gentex Corporation (GNTX) is a supplier of automatic-dimming rearview mirrors and electronics to the automotive industry, dimmable aircraft windows for aviation markets, and fire protection products to the fire protection market. Gentex pioneered the electrochromic automatic-dimming mirror, which detects and eliminates dangerous rearview mirror glare, making nighttime safer for drivers around the world. Gentex mirrors are the optimal space in the vehicle for the placement of a broad array of electronic technology, and are lower in cost than designing electronics into the vehicle interior. Gentex has expanded its product line and business by creating interactive windows for use in commercial and business aircraft. The Company ships its products to all of the automotive producing regions across the world, which it supports with various sales, engineering and distribution locations across the world. Gentex is headquartered in Zeeland, MI. “

A number of other brokerages have also commented on GNTX. Longbow Research began coverage on shares of Gentex in a research report on Friday, January 5th. They set a “buy” rating and a $25.00 price objective for the company. ValuEngine raised shares of Gentex from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. BidaskClub raised shares of Gentex from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. FBR & Co reissued a “buy” rating and issued a $25.00 price target on shares of Gentex in a research report on Wednesday, October 18th. Finally, KeyCorp reissued a “buy” rating and issued a $25.00 price target on shares of Gentex in a research report on Sunday, October 15th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.69.

Gentex (GNTX) traded down $0.10 during mid-day trading on Friday, reaching $22.90. 1,020,000 shares of the company’s stock were exchanged, compared to its average volume of 2,020,000. Gentex has a one year low of $16.59 and a one year high of $23.14. The company has a market capitalization of $6,500.00, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.70 and a beta of 1.22.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.31. The company had revenue of $438.63 million during the quarter, compared to analysts’ expectations of $452.42 million. Gentex had a net margin of 20.80% and a return on equity of 18.45%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. research analysts predict that Gentex will post 1.28 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hikari Power Ltd bought a new stake in shares of Gentex during the fourth quarter valued at approximately $203,000. First Citizens Bank & Trust Co. bought a new position in Gentex in the fourth quarter valued at approximately $354,000. Aurora Investment Counsel bought a new position in Gentex in the fourth quarter valued at approximately $1,414,000. Sterling Capital Management LLC boosted its stake in Gentex by 4.5% in the third quarter. Sterling Capital Management LLC now owns 4,713,571 shares of the auto parts company’s stock valued at $93,329,000 after acquiring an additional 203,025 shares during the last quarter. Finally, Griffin Asset Management Inc. bought a new position in Gentex in the third quarter valued at approximately $811,000. 81.67% of the stock is currently owned by institutional investors and hedge funds.

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Gentex 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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