StockNews.com Downgrades Gentex (NASDAQ:GNTX) to Hold

Gentex (NASDAQ:GNTX) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

GNTX has been the subject of several other reports. The Goldman Sachs Group boosted their price objective on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. B. Riley increased their target price on Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their target price on shares of Gentex from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Finally, Guggenheim lifted their price target on shares of Gentex from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.83.

Gentex Trading Up 0.4 %

Shares of NASDAQ GNTX traded up $0.15 on Monday, reaching $34.86. 2,087,319 shares of the company traded hands, compared to its average volume of 1,432,445. The company has a 50 day moving average of $35.67 and a 200 day moving average of $33.13. Gentex has a fifty-two week low of $25.86 and a fifty-two week high of $37.58. The stock has a market capitalization of $8.06 billion, a PE ratio of 18.44, a P/E/G ratio of 0.73 and a beta of 0.99.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Gentex had a return on equity of 19.19% and a net margin of 18.77%. The firm had revenue of $590.23 million during the quarter, compared to the consensus estimate of $600.38 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts expect that Gentex will post 2.17 earnings per share for the current year.

Insider Activity at Gentex

In other news, Director Richard O. Schaum sold 6,022 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $33.93, for a total value of $204,326.46. Following the completion of the sale, the director now owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $33.93, for a total transaction of $204,326.46. Following the transaction, the director now owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the sale, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gentex

A number of hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new position in shares of Gentex during the fourth quarter worth about $29,000. National Bank of Canada FI boosted its stake in Gentex by 159.1% during the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock valued at $30,000 after purchasing an additional 571 shares during the period. VisionPoint Advisory Group LLC grew its position in Gentex by 123.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock worth $39,000 after purchasing an additional 665 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Gentex in the fourth quarter valued at approximately $46,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Gentex by 371.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock valued at $89,000 after buying an additional 2,157 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.