Zacks Investment Research upgraded shares of Gentex (NASDAQ:GNTX) from a hold rating to a buy rating in a report released on Wednesday, January 10th. Zacks Investment Research currently has $24.00 price target on the auto parts company’s stock.
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. “
GNTX has been the topic of several other reports. ValuEngine upgraded Gentex from a hold rating to a buy rating in a research report on Wednesday, December 27th. BidaskClub upgraded Gentex from a buy rating to a strong-buy rating in a research report on Friday, December 22nd. Robert W. Baird lowered their price objective on Gentex from $22.00 to $21.00 and set an outperform rating for the company in a research note on Monday, October 23rd. KeyCorp restated a buy rating and issued a $25.00 price target on shares of Gentex in a research note on Sunday, October 15th. Finally, Longbow Research started coverage on Gentex in a research note on Friday, January 5th. They issued a buy rating and a $25.00 price target for the company. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $25.50.
Gentex (NASDAQ:GNTX) opened at $21.66 on Wednesday. Gentex has a 1 year low of $16.59 and a 1 year high of $24.07. The stock has a market capitalization of $6,150.00, a P/E ratio of 15.36, a P/E/G ratio of 1.44 and a beta of 1.32.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, January 26th. The auto parts company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $459.57 million for the quarter, compared to analyst estimates of $449.43 million. Gentex had a return on equity of 18.35% and a net margin of 22.66%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. equities analysts forecast that Gentex will post 1.62 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, January 4th. Gentex’s dividend payout ratio is presently 28.37%.
In other news, insider Kevin C. Nash sold 7,874 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $23.40, for a total value of $184,251.60. Following the completion of the transaction, the insider now owns 34,062 shares of the company’s stock, valued at $797,050.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Scott P. Ryan sold 7,220 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $23.66, for a total value of $170,825.20. Following the completion of the sale, the general counsel now owns 21,329 shares in the company, valued at $504,644.14. The disclosure for this sale can be found here. Insiders have sold 27,094 shares of company stock valued at $635,877 in the last three months. 2.50% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of GNTX. Schwab Charles Investment Management Inc. lifted its position in shares of Gentex by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,554,717 shares of the auto parts company’s stock worth $29,493,000 after buying an additional 63,254 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Gentex by 21.3% in the second quarter. Victory Capital Management Inc. now owns 73,537 shares of the auto parts company’s stock worth $1,395,000 after buying an additional 12,892 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Gentex by 59.8% in the second quarter. Prudential Financial Inc. now owns 284,445 shares of the auto parts company’s stock worth $5,396,000 after buying an additional 106,425 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Gentex by 3.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,948 shares of the auto parts company’s stock worth $416,000 after buying an additional 749 shares in the last quarter. Finally, Swiss National Bank raised its position in Gentex by 1.1% during the second quarter. Swiss National Bank now owns 478,500 shares of the auto parts company’s stock valued at $9,077,000 after purchasing an additional 5,100 shares during the period. Institutional investors own 81.39% of the company’s stock.
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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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