Gentex (NASDAQ:GNTX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday, February 25th.
A number of other research analysts have also recently commented on GNTX. Wells Fargo & Co reissued a “buy” rating on shares of Gentex in a research note on Wednesday, November 14th. Jefferies Financial Group started coverage on Gentex in a research note on Tuesday, December 4th. They issued a “hold” rating and a $24.00 target price on the stock. KeyCorp initiated coverage on Gentex in a research note on Monday, December 10th. They issued a “sector weight” rating on the stock. 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 report on Monday, December 31st. Finally, Longbow Research lowered shares of Gentex from a “buy” rating to a “neutral” rating and set a $20.65 price objective for the company. in a report on Tuesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Gentex presently has an average rating of “Hold” and an average target price of $22.46.
Shares of GNTX stock traded down $0.48 during trading on Monday, hitting $19.94. The company’s stock had a trading volume of 1,042,609 shares, compared to its average volume of 1,864,574. The firm has a market cap of $5.29 billion, a PE ratio of 12.31, a P/E/G ratio of 2.10 and a beta of 1.11. Gentex has a 52 week low of $17.80 and a 52 week high of $25.41.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Wednesday, January 30th. The auto parts company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.02). The business had revenue of $453.40 million during the quarter, compared to analysts’ expectations of $477.41 million. Gentex had a return on equity of 23.06% and a net margin of 23.88%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. On average, equities research analysts anticipate that Gentex will post 1.62 earnings per share for the current year.
In related news, General Counsel Scott P. Ryan sold 3,000 shares of the company’s stock in a transaction dated Sunday, December 30th. The shares were sold at an average price of $19.88, for a total transaction of $59,640.00. Following the transaction, the general counsel now directly owns 22,513 shares in the company, valued at approximately $447,558.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James H. Wallace sold 24,000 shares of the company’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 transaction, the director now owns 29,400 shares in the company, valued at $629,160. The disclosure for this sale can be found here. Insiders have sold a total of 35,686 shares of company stock worth $751,263 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Gentex in the 4th quarter worth approximately $61,373,000. Oregon Public Employees Retirement Fund lifted 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 during the last quarter. FMR LLC lifted its position in Gentex by 22.6% during the second quarter. FMR LLC now owns 10,889,141 shares of the auto parts company’s stock valued at $250,668,000 after acquiring an additional 2,008,953 shares during the last quarter. Claybrook Capital LLC purchased a new stake in Gentex during the fourth quarter valued at approximately $20,588,000. Finally, Bank of New York Mellon Corp lifted 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 during the last quarter. Institutional investors and hedge funds own 83.35% of the company’s stock.
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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