Gentex (GNTX) Lowered to “Hold” at Zacks Investment Research
Gentex (NASDAQ:GNTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Gentex Corporation (GNTX) is a supplier of automatic-dimming rearview mirrors and electronics to the automotive industry, dimmable aircraft windows for aviation markets, and fire protection products to the fire protection market. Gentex pioneered the electrochromic automatic-dimming mirror, which detects and eliminates dangerous rearview mirror glare, making nighttime safer for drivers around the world. Gentex mirrors are the optimal space in the vehicle for the placement of a broad array of electronic technology, and are lower in cost than designing electronics into the vehicle interior. Gentex has expanded its product line and business by creating interactive windows for use in commercial and business aircraft. The Company ships its products to all of the automotive producing regions across the world, which it supports with various sales, engineering and distribution locations across the world. Gentex is headquartered in Zeeland, MI. “
GNTX has been the subject of several other research reports. ValuEngine raised shares of Gentex from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. BidaskClub raised shares of Gentex from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Robert W. Baird lowered their target price on shares of Gentex from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, October 23rd. KeyCorp reaffirmed a “buy” rating and issued a $25.00 target price on shares of Gentex in a research note on Sunday, October 15th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $25.00 target price on shares of Gentex in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.56.
Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, October 20th. The auto parts company reported $0.31 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. Gentex had a net margin of 20.80% and a return on equity of 18.45%. The firm had revenue of $438.63 million during the quarter, compared to the consensus estimate of $452.42 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. equities research analysts expect that Gentex will post 1.27 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in GNTX. Schwab Charles Investment Management Inc. boosted its holdings in shares of Gentex by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,554,717 shares of the auto parts company’s stock valued at $29,493,000 after buying an additional 63,254 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Gentex by 21.3% in the second quarter. Victory Capital Management Inc. now owns 73,537 shares of the auto parts company’s stock valued at $1,395,000 after buying an additional 12,892 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Gentex by 59.8% in the second quarter. Prudential Financial Inc. now owns 284,445 shares of the auto parts company’s stock valued at $5,396,000 after buying an additional 106,425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Gentex by 3.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,948 shares of the auto parts company’s stock valued at $416,000 after buying an additional 749 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Gentex by 4.0% in the second quarter. Principal Financial Group Inc. now owns 1,239,869 shares of the auto parts company’s stock valued at $23,520,000 after buying an additional 47,829 shares during the period. Institutional investors own 81.72% of the company’s stock.
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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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