Gentex (GNTX) Raised to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Gentex (NASDAQ:GNTX) from a buy rating to a strong-buy rating in a research report released on Friday morning.

Several other brokerages have also issued reports on GNTX. FBR & Co reissued a buy rating and issued a $25.00 target price on shares of Gentex in a research report on Wednesday, October 18th. Zacks Investment Research raised Gentex from a hold rating to a buy rating and set a $23.00 target price for the company in a research report on Tuesday, October 17th. KeyCorp reissued a buy rating and issued a $25.00 target price on shares of Gentex in a research report on Sunday, October 15th. Robert W. Baird decreased their target price on Gentex from $22.00 to $21.00 and set an outperform rating for the company in a research report on Monday, October 23rd. Finally, B. Riley reissued a buy rating on shares of Gentex in a research report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $22.21.

Shares of Gentex (GNTX) opened at $20.89 on Friday. Gentex has a fifty-two week low of $16.59 and a fifty-two week high of $22.12. The firm has a market capitalization of $5,940.00, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. Gentex had a return on equity of 18.45% and a net margin of 20.80%. The firm had revenue of $438.63 million during the quarter, compared to analyst estimates of $452.42 million. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. analysts expect that Gentex will post 1.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, January 5th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, January 4th. Gentex’s payout ratio is 31.75%.

In other news, insider Kevin C. Nash sold 4,320 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $85,104.00. Following the transaction, the insider now directly owns 30,732 shares in the company, valued at approximately $605,420.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Steven R. Downing sold 8,000 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $157,600.00. Following the completion of the transaction, the chief financial officer now owns 47,362 shares in the company, valued at $933,031.40. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its position in Gentex by 4.5% during the third quarter. Sterling Capital Management LLC now owns 4,713,571 shares of the auto parts company’s stock valued at $93,329,000 after purchasing an additional 203,025 shares in the last quarter. Griffin Asset Management Inc. purchased a new position in Gentex during the third quarter valued at $811,000. California Public Employees Retirement System lifted its position in Gentex by 3.3% during the third quarter. California Public Employees Retirement System now owns 596,783 shares of the auto parts company’s stock valued at $11,816,000 after purchasing an additional 19,083 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Gentex during the third quarter valued at $501,000. Finally, Foyston Gordon & Payne Inc lifted its position in Gentex by 61.7% during the third quarter. Foyston Gordon & Payne Inc now owns 605,501 shares of the auto parts company’s stock valued at $11,989,000 after purchasing an additional 231,045 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

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Gentex 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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.

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