Gentex (GNTX) Downgraded to “Hold” at Zacks Investment Research
Gentex (NASDAQ:GNTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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 note on Wednesday, December 27th. BidaskClub upgraded Gentex from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Robert W. Baird lowered their target price on Gentex from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, October 23rd. KeyCorp restated a “buy” rating and issued a $25.00 target price on shares of Gentex in a research note on Sunday, October 15th. Finally, FBR & Co restated a “buy” rating and issued a $25.00 target price on shares of Gentex in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Gentex presently has an average rating of “Buy” and a consensus target price of $22.56.
Shares of Gentex (NASDAQ:GNTX) traded up $0.31 during trading on Friday, reaching $21.78. The company had a trading volume of 4,226,805 shares, compared to its average volume of 2,588,725. The company has a market capitalization of $6,180.00, a price-to-earnings ratio of 17.29, a P/E/G ratio of 1.60 and a beta of 1.22. Gentex has a 1-year low of $16.59 and a 1-year high of $22.12.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, October 20th. The auto parts company reported $0.31 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.31. The business had revenue of $438.63 million for the quarter, compared to analyst estimates of $452.42 million. Gentex had a return on equity of 18.45% and a net margin of 20.80%. Gentex’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. equities analysts forecast that Gentex will post 1.27 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of GNTX. Wedge Capital Management L L P NC bought a new stake in shares of Gentex during the 3rd quarter valued at $20,369,000. BlackRock Inc. raised its stake in shares of Gentex by 4.4% during the 2nd quarter. BlackRock Inc. now owns 24,223,258 shares of the auto parts company’s stock valued at $459,513,000 after purchasing an additional 1,009,789 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Gentex by 22.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,357,501 shares of the auto parts company’s stock valued at $82,659,000 after purchasing an additional 813,219 shares during the period. Riverbridge Partners LLC raised its stake in shares of Gentex by 12.6% during the 3rd quarter. Riverbridge Partners LLC now owns 5,273,063 shares of the auto parts company’s stock valued at $104,407,000 after purchasing an additional 592,011 shares during the period. Finally, Claar Advisors LLC bought a new stake in shares of Gentex during the 3rd quarter valued at $9,900,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.
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Gentex 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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