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

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

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price target on Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. B. Riley raised their target price on shares of Gentex from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group upped their price target on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Guggenheim increased their price objective on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Gentex presently has a consensus rating of “Hold” and a consensus target price of $37.83.

Gentex Stock Up 0.4 %

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 market cap of $8.06 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 0.73 and a beta of 0.99. The firm has a fifty day simple moving average of $35.67 and a two-hundred day simple moving average of $33.13. Gentex has a one year low of $25.86 and a one year high of $37.58.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. Gentex had a net margin of 18.77% and a return on equity of 19.19%. 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 firm posted $0.42 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Gentex will post 2.17 earnings per share for the current year.

Insider Buying and Selling

In other Gentex news, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction that occurred on 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 directly owns 62,555 shares in the company, valued at $2,122,491.15. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Kevin C. Nash sold 13,500 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 44,321 shares of the company’s stock, valued at approximately $1,464,365.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard O. Schaum sold 6,022 shares of the firm’s stock in a transaction 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 directly owns 62,555 shares of the company’s stock, valued at approximately $2,122,491.15. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Institutional Trading of Gentex

A number of hedge funds have recently modified their holdings of GNTX. Neo Ivy Capital Management acquired a new stake in Gentex during the fourth quarter valued at $29,000. National Bank of Canada FI raised its holdings in Gentex by 159.1% in the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company’s stock worth $30,000 after purchasing an additional 571 shares during the period. VisionPoint Advisory Group LLC increased its position in shares of Gentex by 123.6% in the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company’s stock valued at $39,000 after buying an additional 665 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Gentex during the 4th quarter valued at approximately $46,000. Finally, Global Retirement Partners LLC grew its stake in Gentex by 371.3% in the 4th quarter. Global Retirement Partners LLC now owns 2,738 shares of the auto parts company’s stock valued at $89,000 after acquiring an additional 2,157 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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.