Gentex (GNTX) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Gentex (NASDAQ:GNTX) from a hold rating to a buy rating in a report published on Tuesday, December 26th. The brokerage currently has $23.00 price target on the auto parts company’s stock.

According to Zacks, “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. It’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. Within this business segment, the Company also designs, develops and manufactures various electronics that are features to the interior and exterior automotive rearview mirrors, as well as interior visors, overhead consoles, and other locations in the vehicle. 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. “

Several other equities analysts have also recently commented on the stock. ValuEngine cut shares of Gentex from a buy rating to a hold rating in a research report on Friday, September 1st. Robert W. Baird reduced their price target on shares of Gentex from $22.00 to $21.00 and set an outperform rating on the stock in a research report on Monday, October 23rd. FBR & Co reaffirmed a buy rating and set a $25.00 price target on shares of Gentex in a research report on Wednesday, October 18th. BidaskClub raised shares of Gentex from a buy rating to a strong-buy rating in a research report on Friday, December 22nd. Finally, KeyCorp reaffirmed a buy rating and set a $25.00 price target on shares of Gentex in a research report on Sunday, October 15th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Gentex currently has a consensus rating of Buy and a consensus target price of $22.69.

Shares of Gentex (GNTX) opened at $22.66 on Tuesday. The company has a market capitalization of $6,440.00, a price-to-earnings ratio of 17.98, a PEG ratio of 1.63 and a beta of 1.22. Gentex has a twelve month low of $16.59 and a twelve month high of $22.71.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $438.63 million during the quarter, compared to the consensus estimate of $452.42 million. Gentex had a return on equity of 18.45% and a net margin of 20.80%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. research analysts forecast that Gentex will post 1.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Friday, January 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, January 4th. Gentex’s dividend payout ratio is 31.75%.

Several large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Gentex by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after purchasing an additional 368 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Gentex in the 3rd quarter worth $105,000. Ffcm LLC bought a new position in shares of Gentex during the 3rd quarter worth about $174,000. Sheaff Brock Investment Advisors LLC bought a new position in shares of Gentex during the 2nd quarter worth about $194,000. Finally, Verition Fund Management LLC bought a new position in shares of Gentex during the 2nd quarter worth about $195,000. 81.72% of the stock is owned by institutional investors.

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About Gentex

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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