Gentex Corporation (NASDAQ:GNTX) Downgraded to Strong Sell at BidaskClub
BidaskClub downgraded shares of Gentex Corporation (NASDAQ:GNTX) from a sell rating to a strong sell rating in a research note published on Thursday morning.
A number of other equities analysts also recently weighed in on GNTX. Zacks Investment Research downgraded shares of Gentex Corporation from a hold rating to a sell rating in a report on Thursday, March 30th. Wellington Shields downgraded shares of Gentex Corporation from a gradually accumulate rating to a hold rating in a report on Thursday, May 4th. Craig Hallum downgraded shares of Gentex Corporation from a buy rating to a hold rating and set a $18.00 price target on the stock. in a report on Monday, July 24th. FBR & Co reissued an outperform rating and issued a $25.00 price target on shares of Gentex Corporation in a report on Monday, July 24th. Finally, BMO Capital Markets reissued an outperform rating and issued a $22.00 price target (down from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Gentex Corporation presently has an average rating of Hold and a consensus price target of $21.75.
Shares of Gentex Corporation (NASDAQ:GNTX) traded down 0.23% during trading on Thursday, hitting $17.02. 1,906,756 shares of the stock traded hands. Gentex Corporation has a 1-year low of $16.06 and a 1-year high of $22.12. The stock has a 50 day moving average price of $18.42 and a 200-day moving average price of $19.95. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 13.51 and a beta of 1.19.
Gentex Corporation (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $443.10 million during the quarter, compared to analysts’ expectations of $446.36 million. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. Gentex Corporation’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. Equities analysts forecast that Gentex Corporation will post $1.28 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 19th. Shareholders of record on Thursday, July 6th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, July 3rd. This is an increase from Gentex Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 2.34%. Gentex Corporation’s dividend payout ratio is 31.50%.
In other Gentex Corporation news, Director John A. Mulder sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $19.22, for a total transaction of $192,200.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. acquired a new stake in Gentex Corporation during the first quarter valued at approximately $379,000. Profund Advisors LLC increased its stake in Gentex Corporation by 5.6% in the first quarter. Profund Advisors LLC now owns 40,105 shares of the auto parts company’s stock valued at $855,000 after buying an additional 2,119 shares during the period. Hollencrest Securities LLC acquired a new stake in Gentex Corporation during the first quarter valued at approximately $297,000. Nationwide Fund Advisors increased its stake in Gentex Corporation by 0.8% in the first quarter. Nationwide Fund Advisors now owns 479,673 shares of the auto parts company’s stock valued at $10,231,000 after buying an additional 3,649 shares during the period. Finally, Cape Cod Five Cents Savings Bank acquired a new stake in Gentex Corporation during the first quarter valued at approximately $919,000. 82.72% of the stock is currently owned by institutional investors and hedge funds.
Gentex Corporation Company Profile
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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