Gentex (GNTX) Upgraded by BidaskClub to “Hold”

Gentex (NASDAQ:GNTX) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, March 30th, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price objective on shares of Gentex in a research report on Monday, February 4th. KeyCorp initiated coverage on Gentex in a research report on Monday, December 10th. They set a “sector weight” rating on the stock. ValuEngine downgraded Gentex from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Gentex in a research report on Wednesday, January 30th. Finally, Longbow Research downgraded Gentex from a “buy” rating to a “neutral” rating and set a $20.65 price objective on the stock. in a research report on Tuesday, February 5th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Gentex presently has an average rating of “Hold” and an average price target of $22.58.

Gentex stock traded up $0.29 during mid-day trading on Friday, hitting $22.30. The company’s stock had a trading volume of 1,147,976 shares, compared to its average volume of 1,338,954. Gentex has a one year low of $17.80 and a one year high of $25.41. The company has a market capitalization of $5.73 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Wednesday, January 30th. The auto parts company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Gentex had a return on equity of 23.06% and a net margin of 23.88%. The firm had revenue of $453.40 million for the quarter, compared to the consensus estimate of $477.41 million. During the same period in the previous year, the company posted $0.46 EPS. Gentex’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Gentex will post 1.62 EPS for the current year.

In other news, Director James H. Wallace sold 24,000 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $21.40, for a total value of $513,600.00. Following the completion of the transaction, the director now directly owns 29,400 shares in the company, valued at $629,160. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Matthew Chiodo sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.82, for a total value of $62,460.00. Following the completion of the transaction, the vice president now owns 34,454 shares of the company’s stock, valued at $717,332.28. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 2,009 shares of company stock valued at $35,318 and sold 29,686 shares valued at $631,983. Company insiders own 0.37% of the company’s stock.

Several large investors have recently made changes to their positions in GNTX. Norges Bank purchased a new position in Gentex during the fourth quarter valued at approximately $61,373,000. Oregon Public Employees Retirement Fund raised its position in Gentex by 1,889.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,153,052 shares of the auto parts company’s stock valued at $107,000 after acquiring an additional 2,044,853 shares in the last quarter. Claybrook Capital LLC purchased a new position in Gentex during the fourth quarter valued at approximately $20,588,000. Bank of New York Mellon Corp raised its position in Gentex by 24.5% during the third quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock valued at $106,585,000 after acquiring an additional 976,219 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Gentex during the fourth quarter valued at approximately $19,692,000. Hedge funds and other institutional investors own 85.18% of the company’s stock.

Gentex Company Profile

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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Analyst Recommendations for Gentex (NASDAQ:GNTX)

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