According to Zacks, “Gentex aims to attain long-term growth, driven by robust product launches, better mix and unique technology platforms. It pursues an aggressive capital-deployment strategy. Also, rising demand for its dimmable devices is adding to the growth momentum. However, high operating expenses and pricing pressure from automotive customers and competitors are concerns for Gentex.”
Several other research analysts have also recently weighed in on the stock. BidaskClub raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Saturday, January 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price target on shares of Gentex in a report on Monday, February 4th. KeyCorp initiated coverage on shares of Gentex in a report on Monday, December 10th. They issued a “sector weight” rating on the stock. ValuEngine cut shares of Gentex from a “hold” rating to a “sell” rating in a report on Thursday, February 14th. Finally, Longbow Research cut shares of Gentex from a “buy” rating to a “neutral” rating and set a $20.65 price target on the stock. in a report on Tuesday, February 5th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Gentex currently has a consensus rating of “Hold” and a consensus price target of $22.58.
Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Wednesday, January 30th. The auto parts company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The firm had revenue of $453.40 million during the quarter, compared to the consensus estimate of $477.41 million. Gentex had a return on equity of 23.06% and a net margin of 23.88%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 EPS. As a group, equities research analysts forecast that Gentex will post 1.62 EPS for the current year.
In related news, Director James H. Wallace sold 24,000 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $21.40, for a total value of $513,600.00. Following the transaction, the director now owns 29,400 shares of the company’s stock, valued at $629,160. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Matthew Chiodo sold 3,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.82, for a total value of $62,460.00. Following the completion of the transaction, the vice president now directly owns 34,454 shares in the company, valued at approximately $717,332.28. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,009 shares of company stock worth $35,318 and sold 29,686 shares worth $631,983. 0.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Gentex by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 3,950,871 shares of the auto parts company’s stock worth $79,846,000 after purchasing an additional 303,378 shares during the period. Norges Bank purchased a new stake in shares of Gentex during the fourth quarter worth about $61,373,000. Aurora Investment Counsel boosted its holdings in shares of Gentex by 4.4% during the fourth quarter. Aurora Investment Counsel now owns 72,348 shares of the auto parts company’s stock worth $1,462,000 after purchasing an additional 3,036 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Gentex by 66.7% during the fourth quarter. APG Asset Management N.V. now owns 989,700 shares of the auto parts company’s stock worth $17,497,000 after purchasing an additional 396,000 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Gentex by 34.5% during the fourth quarter. Amalgamated Bank now owns 59,883 shares of the auto parts company’s stock worth $1,210,000 after purchasing an additional 15,350 shares during the period. 84.54% of the stock is currently owned by institutional investors and hedge funds.
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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