Gentex (NASDAQ:GNTX) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of Gentex (NASDAQ:GNTX) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, BidAskClub reports.

A number of other research firms also recently commented on GNTX. BMO Capital Markets restated a hold rating on shares of First Majestic Silver in a research report on Tuesday, April 2nd. Longbow Research restated a hold rating on shares of Cooper Tire & Rubber in a research report on Sunday, July 7th. Finally, Zacks Investment Research upgraded Eutelsat Communications from a hold rating to a strong-buy rating and set a $21.00 target price on the stock in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Gentex has a consensus rating of Hold and a consensus price target of $22.28.

NASDAQ:GNTX opened at $23.88 on Thursday. Gentex has a 52 week low of $17.80 and a 52 week high of $25.00. The stock has a market capitalization of $6.10 billion, a P/E ratio of 14.65, a P/E/G ratio of 2.42 and a beta of 1.21. The company has a fifty day simple moving average of $23.48.

Gentex (NASDAQ:GNTX) last posted its earnings results on Wednesday, April 24th. The auto parts company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Gentex had a return on equity of 23.03% and a net margin of 23.45%. The company had revenue of $468.60 million for the quarter, compared to the consensus estimate of $463.79 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts anticipate that Gentex will post 1.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.93%. Gentex’s payout ratio is presently 28.40%.

In other news, Director Gary F. Goode sold 5,045 shares of Gentex stock in a transaction on Monday, April 29th. The stock was sold at an average price of $23.20, for a total value of $117,044.00. Following the completion of the sale, the director now directly owns 21,045 shares of the company’s stock, valued at $488,244. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.37% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of GNTX. Creative Financial Designs Inc. ADV acquired a new stake in shares of Gentex in the first quarter valued at $27,000. Bremer Bank National Association acquired a new stake in shares of Gentex in the first quarter valued at $29,000. Icon Wealth Partners LLC acquired a new stake in shares of Gentex in the first quarter valued at $31,000. Carroll Financial Associates Inc. grew its stake in shares of Gentex by 159.1% in the second quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock valued at $31,000 after buying an additional 789 shares in the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of Gentex in the first quarter valued at $33,000. 82.60% of the stock is owned by institutional investors and hedge funds.

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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