Jefferies Financial Group reiterated their hold rating on shares of Gentex (NASDAQ:GNTX) in a research note published on Monday, February 4th. Jefferies Financial Group currently has a $23.00 price target on the auto parts company’s stock. Jefferies Financial Group also issued estimates for Gentex’s Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.39 EPS, Q3 2019 earnings at $0.41 EPS, Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.62 EPS, Q1 2020 earnings at $0.45 EPS, Q2 2020 earnings at $0.45 EPS, Q3 2020 earnings at $0.46 EPS, Q4 2020 earnings at $0.46 EPS and FY2020 earnings at $1.83 EPS.
“GNTX reported Q4 sales and EPS of $453M and $0.41, vs. our ests. of $482M and $0.43 while GNTX announced 2019 revenue and gross margin guidance below expectations. We expect continued EBIT choppiness in 1H’19 as lower yr/yr production, expected gross margin headwinds, and sustained R&D levels (to support growth initiatives) weigh on earnings. We lower our PT to $23 – maintain Hold.”,” the firm’s analyst wrote.
GNTX has been the subject of several other reports. Zacks Investment Research upgraded shares of Gentex from a hold rating to a buy rating and set a $22.00 price objective for the company in a research note on Monday, December 31st. BidaskClub downgraded shares of Gentex from a buy rating to a hold rating in a research note on Friday, November 30th. Robert W. Baird lifted their price objective on shares of Gentex from $19.00 to $20.00 and gave the stock a neutral rating in a research note on Monday, October 22nd. Wells Fargo & Co reiterated a buy rating on shares of Gentex in a research note on Wednesday, November 14th. Finally, KeyCorp began coverage on shares of Gentex in a research note on Monday, December 10th. They set a sector weight rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Gentex currently has a consensus rating of Hold and an average target price of $22.46.
GNTX stock traded up $0.16 during trading on Monday, hitting $20.50. 1,779,143 shares of the company’s stock traded hands, compared to its average volume of 2,461,454. Gentex has a 1 year low of $17.80 and a 1 year high of $25.41. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.46 and a beta of 1.09.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Wednesday, January 30th. The auto parts company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $477.41 million. During the same period in the prior year, the firm posted $0.46 earnings per share. Gentex’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, analysts anticipate that Gentex will post 1.62 EPS for the current fiscal year.
In other news, Director James H. Wallace sold 24,000 shares of the business’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $21.40, for a total transaction of $513,600.00. Following the completion of the sale, the director now owns 29,400 shares of the company’s stock, valued at $629,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Scott P. Ryan sold 3,000 shares of the business’s stock in a transaction dated Sunday, December 30th. The stock was sold at an average price of $19.88, for a total transaction of $59,640.00. Following the sale, the general counsel now directly owns 22,513 shares of the company’s stock, valued at approximately $447,558.44. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock valued at $632,880 in the last three months. Corporate insiders own 0.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GNTX. Aurora Investment Counsel grew its stake in Gentex by 4.4% during the 4th quarter. Aurora Investment Counsel now owns 72,348 shares of the auto parts company’s stock valued at $1,462,000 after acquiring an additional 3,036 shares in the last quarter. APG Asset Management N.V. grew its stake in Gentex by 66.7% during the 4th quarter. APG Asset Management N.V. now owns 989,700 shares of the auto parts company’s stock valued at $17,497,000 after acquiring an additional 396,000 shares in the last quarter. Amalgamated Bank grew its stake in Gentex by 34.5% during the 4th quarter. Amalgamated Bank now owns 59,883 shares of the auto parts company’s stock valued at $1,210,000 after acquiring an additional 15,350 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Gentex by 4.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 488,657 shares of the auto parts company’s stock valued at $9,876,000 after acquiring an additional 21,383 shares in the last quarter. Finally, HRT Financial LLC purchased a new stake in Gentex during the 4th quarter valued at about $335,000. 84.15% of the stock is owned by institutional investors and hedge funds.
Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features 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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