Gentex (NASDAQ:GNTX) Upgraded by Wall Street Zen to Buy Rating

Gentex (NASDAQ:GNTX) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other analysts have also recently commented on GNTX. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. B. Riley Financial restated a “buy” rating and issued a $29.00 target price (up from $28.00) on shares of Gentex in a report on Monday, April 27th. UBS Group set a $26.00 price target on shares of Gentex in a research note on Sunday, April 26th. Robert W. Baird lifted their price target on shares of Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Freedom Capital raised shares of Gentex to a “strong-buy” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.83.

Gentex Stock Performance

Shares of NASDAQ:GNTX opened at $24.51 on Friday. The business’s fifty day moving average price is $24.27 and its two-hundred day moving average price is $23.48. The stock has a market cap of $5.22 billion, a PE ratio of 13.77 and a beta of 0.78. Gentex has a one year low of $20.48 and a one year high of $29.38.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The company had revenue of $675.44 million during the quarter, compared to analysts’ expectations of $649.42 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, equities research analysts predict that Gentex will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 5,939 shares of Gentex stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $22.98, for a total value of $136,478.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard O. Schaum sold 4,815 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the transaction, the director directly owned 81,443 shares of the company’s stock, valued at approximately $1,898,436.33. This represents a 5.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 16,693 shares of company stock worth $385,194. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gentex

A number of institutional investors have recently bought and sold shares of the stock. Anchor Investment Management LLC acquired a new position in Gentex during the first quarter worth approximately $26,000. CIBC Private Wealth Group LLC raised its stake in Gentex by 2,420.7% during the third quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 1,985 shares during the period. Arax Advisory Partners acquired a new position in shares of Gentex in the 4th quarter valued at $52,000. AdvisorNet Financial Inc boosted its holdings in shares of Gentex by 2,299.0% in the 1st quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after purchasing an additional 2,299 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in shares of Gentex during the 4th quarter valued at $56,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

About Gentex

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).