Gentex (NASDAQ:GNTX) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Gentex (NASDAQ:GNTX) from a buy rating to a hold rating in a research note released on Friday morning, BidAskClub reports.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Gentex from a hold rating to a sell rating and set a $29.00 price objective on the stock. in a research report on Thursday, October 17th. B. Riley upped their price objective on shares of Gentex from $29.00 to $35.00 and gave the stock a buy rating in a research report on Monday, October 21st. Guggenheim set a $31.00 price objective on shares of Gentex and gave the stock a buy rating in a research report on Monday, October 21st. Finally, ValuEngine upgraded shares of Gentex from a sell rating to a hold rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $27.28.

Shares of GNTX stock traded up $0.05 during trading on Friday, hitting $28.61. The company had a trading volume of 31,135 shares, compared to its average volume of 1,450,360. The stock’s 50-day moving average is $27.76 and its two-hundred day moving average is $25.71. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 3.46 and a beta of 1.17. Gentex has a 52 week low of $19.24 and a 52 week high of $29.69.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, October 18th. The auto parts company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The company had revenue of $477.76 million for the quarter, compared to analysts’ expectations of $475.59 million. Gentex had a net margin of 23.09% and a return on equity of 22.87%. Gentex’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. On average, research analysts anticipate that Gentex will post 1.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Tuesday, October 8th. Gentex’s dividend payout ratio is currently 28.40%.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

In other Gentex news, CFO Kevin C. Nash sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $27.49, for a total value of $329,880.00. Following the completion of the sale, the chief financial officer now owns 26,966 shares of the company’s stock, valued at $741,295.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John A. Mulder sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $28.08, for a total value of $140,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,914 shares of company stock valued at $1,284,113. 0.37% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners boosted its stake in Gentex by 22.9% in the second quarter. Boston Partners now owns 4,572,437 shares of the auto parts company’s stock worth $112,516,000 after buying an additional 853,372 shares in the last quarter. Maj Invest Holding A S boosted its stake in Gentex by 0.7% in the third quarter. Maj Invest Holding A S now owns 4,493,745 shares of the auto parts company’s stock worth $123,735,000 after buying an additional 31,071 shares in the last quarter. Schroder Investment Management Group boosted its stake in Gentex by 0.4% in the second quarter. Schroder Investment Management Group now owns 3,729,742 shares of the auto parts company’s stock worth $91,789,000 after buying an additional 14,189 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Gentex by 58.6% in the second quarter. Wells Fargo & Company MN now owns 3,511,934 shares of the auto parts company’s stock worth $86,428,000 after buying an additional 1,297,207 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Gentex by 1.0% in the second quarter. Invesco Ltd. now owns 3,231,757 shares of the auto parts company’s stock worth $79,534,000 after buying an additional 32,435 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Gentex Company Profile

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

Read More: Most Active Stocks: Dollar Volume vs Share Volume

Analyst Recommendations for Gentex (NASDAQ:GNTX)

Leave a Reply

Your email address will not be published. Required fields are marked *

*