Gentex (NASDAQ:GNTX) Cut to “Hold” at BidaskClub

BidaskClub cut shares of Gentex (NASDAQ:GNTX) from a buy rating to a hold rating in a research report released on Tuesday, BidAskClub reports.

Several other research firms have also issued reports on GNTX. Zacks Investment Research upgraded shares of Gentex from a hold rating to a buy rating and set a $25.00 target price for the company in a report on Thursday, May 16th. BMO Capital Markets lowered their target price on shares of Gentex from $26.00 to $25.00 and set an outperform rating for the company in a report on Tuesday, April 2nd. Finally, ValuEngine lowered shares of Gentex from a hold rating to a sell rating in a report on Thursday, February 14th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $22.28.

GNTX stock opened at $23.84 on Tuesday. Gentex has a 52 week low of $17.80 and a 52 week high of $25.41. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.39 and a beta of 1.15.



Gentex (NASDAQ:GNTX) last released its earnings results on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $468.60 million during the quarter, compared to analyst estimates of $463.79 million. Gentex had a net margin of 23.45% and a return on equity of 23.03%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. On average, equities research analysts forecast that Gentex will post 1.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 1.93%. Gentex’s dividend payout ratio (DPR) is presently 28.40%.

In related news, Director Gary F. Goode sold 5,045 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.20, for a total value of $117,044.00. Following the transaction, the director now owns 21,045 shares of the company’s stock, valued at approximately $488,244. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Matthew Chiodo sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.82, for a total transaction of $62,460.00. Following the completion of the transaction, the vice president now directly owns 34,454 shares in the company, valued at approximately $717,332.28. The disclosure for this sale can be found here. In the last 90 days, insiders bought 2,009 shares of company stock valued at $35,318 and sold 10,731 shares valued at $235,427. 0.37% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Norris Perne & French LLP MI increased its stake in Gentex by 2.9% in the 1st quarter. Norris Perne & French LLP MI now owns 19,431 shares of the auto parts company’s stock worth $402,000 after buying an additional 544 shares during the period. Parallel Advisors LLC increased its position in Gentex by 23.7% during the 1st quarter. Parallel Advisors LLC now owns 2,857 shares of the auto parts company’s stock valued at $59,000 after purchasing an additional 547 shares during the period. Azimuth Capital Management LLC increased its position in Gentex by 0.5% during the 1st quarter. Azimuth Capital Management LLC now owns 106,800 shares of the auto parts company’s stock valued at $2,209,000 after purchasing an additional 550 shares during the period. Mason Street Advisors LLC increased its position in Gentex by 0.4% during the 1st quarter. Mason Street Advisors LLC now owns 137,852 shares of the auto parts company’s stock valued at $2,851,000 after purchasing an additional 555 shares during the period. Finally, Strs Ohio increased its position in Gentex by 4.1% during the 1st quarter. Strs Ohio now owns 14,086 shares of the auto parts company’s stock valued at $291,000 after purchasing an additional 558 shares during the period. 82.67% of the stock is currently owned by institutional investors.

About Gentex

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.

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Analyst Recommendations for Gentex (NASDAQ:GNTX)

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