Gentex (NASDAQ:GNTX) Cut to “Sell” at ValuEngine

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

Several other equities research analysts also recently commented on the company. B. Riley set a $29.00 price objective on Gentex and gave the company a buy rating in a report on Friday, July 19th. BidaskClub raised Gentex from a sell rating to a hold rating in a research report on Tuesday, July 30th. Longbow Research reaffirmed a hold rating on shares of Gentex in a research report on Sunday, July 7th. Finally, Zacks Investment Research raised Gentex from a sell rating to a hold rating and set a $28.00 target price on the stock in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Gentex currently has an average rating of Hold and an average target price of $23.52.

NASDAQ GNTX opened at $26.44 on Wednesday. The company has a market cap of $6.58 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 3.07 and a beta of 1.22. Gentex has a 52 week low of $17.80 and a 52 week high of $28.43. The business has a 50 day moving average price of $27.01 and a 200-day moving average price of $24.49.

Gentex (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 19th. The auto parts company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $468.71 million during the quarter, compared to the consensus estimate of $462.65 million. Gentex had a return on equity of 23.08% and a net margin of 23.28%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, equities analysts expect that Gentex will post 1.68 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be given a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 annualized dividend and a yield of 1.74%. Gentex’s dividend payout ratio is currently 28.40%.

In other news, CFO Kevin C. Nash sold 12,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $27.49, for a total transaction of $329,880.00. Following the transaction, the chief financial officer now owns 26,966 shares of the company’s stock, valued at approximately $741,295.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Matthew Chiodo sold 5,560 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $27.07, for a total value of $150,509.20. Following the transaction, the vice president now directly owns 30,776 shares in the company, valued at approximately $833,106.32. The disclosure for this sale can be found here. In the last three months, insiders sold 64,043 shares of company stock worth $1,775,639. Insiders own 0.37% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its holdings in Gentex by 4.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 35,250 shares of the auto parts company’s stock valued at $867,000 after acquiring an additional 1,367 shares during the period. Country Trust Bank boosted its holdings in Gentex by 1.9% during the 2nd quarter. Country Trust Bank now owns 1,026,687 shares of the auto parts company’s stock valued at $25,267,000 after acquiring an additional 18,937 shares during the period. Fort L.P. boosted its holdings in Gentex by 38.9% during the 1st quarter. Fort L.P. now owns 80,992 shares of the auto parts company’s stock valued at $1,675,000 after acquiring an additional 22,700 shares during the period. State of Alaska Department of Revenue boosted its holdings in Gentex by 86.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 55,685 shares of the auto parts company’s stock valued at $1,369,000 after acquiring an additional 25,793 shares during the period. Finally, Chesapeake Wealth Management purchased a new stake in Gentex during the 2nd quarter valued at about $640,000. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

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.

Recommended Story: Different Options Trading Strategies

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Gentex (NASDAQ:GNTX)

Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit