Gentex Corporation (NASDAQ:GNTX) Stock Rating Upgraded by Zacks Investment Research

Gentex Corporation (NASDAQ:GNTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, November 1st.

According to Zacks, “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. It’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. Within this business segment, the Company also designs, develops and manufactures various electronics that are features to the interior and exterior automotive rearview mirrors, as well as interior visors, overhead consoles, and other locations in the vehicle. 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. “

A number of other brokerages have also recently weighed in on GNTX. ValuEngine cut shares of Gentex Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Robert W. Baird lowered their price target on shares of Gentex Corporation from $22.00 to $21.00 and set an “outperform” rating on the stock in a report on Monday, October 23rd. Craig Hallum lowered 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 reaffirmed a “buy” rating and issued a $25.00 target price on shares of Gentex Corporation in a report on Wednesday, October 18th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $22.00 target price (down previously from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Gentex Corporation presently has a consensus rating of “Hold” and a consensus target price of $22.06.

Shares of Gentex Corporation (NASDAQ GNTX) opened at $18.73 on Wednesday. Gentex Corporation has a 52-week low of $16.59 and a 52-week high of $22.12. The firm has a market cap of $5,300.46, a PE ratio of 14.82, a P/E/G ratio of 1.52 and a beta of 1.20.

Gentex Corporation (NASDAQ:GNTX) last released its earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $438.63 million for the quarter, compared to the consensus estimate of $452.42 million. Gentex Corporation had a net margin of 20.80% and a return on equity of 18.45%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. sell-side analysts expect that Gentex Corporation will post 1.27 EPS for the current year.

Gentex Corporation declared that its board has authorized a stock repurchase plan on Wednesday, August 23rd that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the auto parts company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: This news story was reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this news story can be accessed at https://www.truebluetribune.com/2017/11/14/gentex-corporation-gntx-rating-increased-to-hold-at-zacks-investment-research.html.

In related news, CFO Steven R. Downing sold 8,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $157,600.00. Following the completion of the transaction, the chief financial officer now owns 47,362 shares of the company’s stock, valued at $933,031.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kevin C. Nash sold 4,320 shares of the business’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total value of $85,104.00. Following the completion of the transaction, the insider now directly owns 30,732 shares of the company’s stock, valued at approximately $605,420.40. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in GNTX. Northwestern Mutual Wealth Management Co. grew its position in Gentex Corporation by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after acquiring an additional 368 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Gentex Corporation in the third quarter valued at about $105,000. Ffcm LLC bought a new position in Gentex Corporation in the third quarter valued at about $174,000. LVM Capital Management Ltd. MI bought a new position in Gentex Corporation in the second quarter valued at about $194,000. Finally, Sheaff Brock Investment Advisors LLC bought a new position in Gentex Corporation in the second quarter valued at about $194,000. Hedge funds and other institutional investors own 80.83% of the company’s stock.

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.

Get a free copy of the Zacks research report on Gentex Corporation (GNTX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Gentex Corporation (NASDAQ:GNTX)

Receive News & Ratings for Gentex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply