Gentex Corporation (NASDAQ:GNTX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Gentex Corporation is an international company that provides high-quality products to the worldwide automotive industry and North American fire protection market. The Company develops, manufactures and markets proprietary electro-optic products, including interior and exterior electrochromic, automatic-dimming Night Vision Safety automotive rearview mirrors that dim in proportion to the amount of headlight glare from trailing vehicle headlamps, and an extensive line of fire protection products for commercial applications. “
GNTX has been the subject of several other reports. Susquehanna assumed coverage on shares of Gentex Corporation in a report on Monday, December 19th. They set a “neutral” rating and a $21.00 price target for the company. FBR & Co upped their price target on shares of Gentex Corporation from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, October 21st. KeyCorp reiterated an “overweight” rating on shares of Gentex Corporation in a report on Monday, January 9th. Finally, BMO Capital Markets began coverage on shares of Gentex Corporation in a research note on Tuesday, December 20th. They issued an “outperform” rating and a $24.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.80.
Shares of Gentex Corporation (NASDAQ:GNTX) opened at 21.23 on Thursday. The company’s 50-day moving average price is $20.48 and its 200 day moving average price is $18.25. The firm has a market cap of $6.10 billion, a P/E ratio of 17.84 and a beta of 0.87. Gentex Corporation has a 52 week low of $13.02 and a 52 week high of $21.89.
Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 27th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.01. The company had revenue of $419.90 million for the quarter, compared to analyst estimates of $442.90 million. Gentex Corporation had a return on equity of 19.53% and a net margin of 20.86%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. On average, equities analysts anticipate that Gentex Corporation will post $1.32 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Friday, January 6th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, January 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.70%. Gentex Corporation’s dividend payout ratio (DPR) is currently 29.75%.
In other Gentex Corporation news, VP Joseph E. Iv Matthews sold 2,244 shares of the company’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $18.00, for a total transaction of $40,392.00. Following the sale, the vice president now owns 17,614 shares of the company’s stock, valued at $317,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of GNTX. Dumont & Blake Investment Advisors LLC boosted its stake in shares of Gentex Corporation by 0.5% in the third quarter. Dumont & Blake Investment Advisors LLC now owns 40,085 shares of the company’s stock worth $704,000 after buying an additional 185 shares during the period. Reliance Trust Co. of Delaware boosted its stake in shares of Gentex Corporation by 1.3% in the second quarter. Reliance Trust Co. of Delaware now owns 22,223 shares of the company’s stock worth $344,000 after buying an additional 284 shares during the period. CrestPoint Capital Management LLC boosted its stake in shares of Gentex Corporation by 4.0% in the third quarter. CrestPoint Capital Management LLC now owns 10,500 shares of the company’s stock worth $184,000 after buying an additional 400 shares during the period. Lebenthal Holdings LLC boosted its stake in shares of Gentex Corporation by 1.3% in the second quarter. Lebenthal Holdings LLC now owns 44,864 shares of the company’s stock worth $693,000 after buying an additional 570 shares during the period. Finally, United Services Automobile Association boosted its stake in shares of Gentex Corporation by 2.5% in the second quarter. United Services Automobile Association now owns 25,650 shares of the company’s stock worth $396,000 after buying an additional 630 shares during the period. 84.83% of the stock is currently owned by institutional investors and hedge funds.
Gentex Corporation Company Profile
Gentex Corporation designs and manufactures automatic-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. The Company’s segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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