Gentex (GNTX) Lifted to “Buy” at Zacks Investment Research
Gentex (NASDAQ:GNTX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $24.00 price target on the auto parts company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.68% from the company’s previous close.
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. “
Several other research analysts also recently commented on GNTX. KeyCorp reiterated a “buy” rating and set a $25.00 target price on shares of Gentex in a research note on Sunday, October 15th. FBR & Co reiterated a “buy” rating and set a $25.00 target price on shares of Gentex in a research note on Wednesday, October 18th. Robert W. Baird reduced their target price on Gentex from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, October 23rd. B. Riley reiterated a “buy” rating on shares of Gentex in a research note on Wednesday, November 1st. Finally, BidaskClub upgraded Gentex from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $22.69.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share for the quarter, meeting the Zacks’ 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 the consensus estimate of $452.42 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. sell-side analysts predict that Gentex will post 1.27 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in GNTX. Northwestern Mutual Wealth Management Co. lifted its holdings in Gentex by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock worth $100,000 after purchasing an additional 368 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Gentex during the 3rd quarter worth approximately $105,000. Ffcm LLC acquired a new stake in Gentex during the 3rd quarter worth approximately $174,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Gentex during the 2nd quarter worth approximately $194,000. Finally, Verition Fund Management LLC acquired a new stake in Gentex during the 2nd quarter worth approximately $195,000. 81.72% of the stock is owned by institutional investors and hedge funds.
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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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