Gentex (NASDAQ:GNTX) Downgraded by ValuEngine

ValuEngine cut shares of Gentex (NASDAQ:GNTX) from a buy rating to a hold rating in a report issued on Thursday morning, ValuEngine reports.

Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Gentex from a sell rating to a hold rating and set a $28.00 price objective for the company in a research note on Tuesday, July 23rd. B. Riley set a $29.00 price objective on Gentex and gave the stock a buy rating in a research note on Friday, July 19th. BidaskClub upgraded Gentex from a sell rating to a hold rating in a research note on Tuesday, July 30th. Finally, Longbow Research restated a hold rating on shares of Gentex in a research note on Sunday, July 7th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $23.66.

Shares of NASDAQ GNTX traded up $0.15 during trading on Thursday, reaching $27.04. The stock had a trading volume of 1,416,033 shares, compared to its average volume of 2,014,768. Gentex has a one year low of $17.80 and a one year high of $27.94. The firm has a market capitalization of $6.87 billion, a PE ratio of 16.69, a PEG ratio of 3.20 and a beta of 1.22. The stock has a 50 day simple moving average of $24.87.

Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 19th. The auto parts company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The firm had revenue of $468.71 million during the quarter, compared to the consensus estimate of $462.65 million. Gentex had a return on equity of 23.08% and a net margin of 23.28%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. As a group, research analysts forecast that Gentex will post 1.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were given a dividend of $0.115 per share. The ex-dividend date was Tuesday, July 9th. This represents a $0.46 dividend on an annualized basis and a yield of 1.70%. Gentex’s dividend payout ratio (DPR) is presently 28.40%.

In other Gentex news, Director James A. Hollars sold 14,000 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $25.32, for a total transaction of $354,480.00. Following the completion of the transaction, the director now owns 51,707 shares in the company, valued at approximately $1,309,221.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary F. Goode sold 2,586 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $27.60, for a total value of $71,373.60. Following the transaction, the director now owns 22,989 shares of the company’s stock, valued at approximately $634,496.40. The disclosure for this sale can be found here. Insiders have sold a total of 36,394 shares of company stock valued at $937,122 in the last quarter. 0.37% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in GNTX. Boston Partners acquired a new position in Gentex during the 1st quarter worth $76,910,000. Norges Bank acquired a new position in Gentex during the 4th quarter worth $61,373,000. AJO LP boosted its position in Gentex by 211.8% during the 1st quarter. AJO LP now owns 826,995 shares of the auto parts company’s stock worth $17,102,000 after acquiring an additional 561,747 shares during the period. Maj Invest Holding A S boosted its position in Gentex by 10.5% during the 1st quarter. Maj Invest Holding A S now owns 4,206,037 shares of the auto parts company’s stock worth $86,980,000 after acquiring an additional 400,743 shares during the period. Finally, Thoroughbred Financial Services LLC boosted its position in Gentex by 2,268.2% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 388,887 shares of the auto parts company’s stock worth $38,889,000 after acquiring an additional 372,466 shares during the period. Institutional investors own 82.74% of the company’s stock.

About Gentex

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.

Featured Story: What does cost of debt say about a company’s financial health?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Gentex (NASDAQ:GNTX)

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