Gentex (NASDAQ:GNTX) Rating Lowered to Hold at Wall Street Zen

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

A number of other brokerages have also commented on GNTX. Weiss Ratings reiterated a “hold (c-)” rating on shares of Gentex in a research report on Tuesday, June 2nd. UBS Group set a $26.00 price objective on Gentex in a research report on Sunday, April 26th. B. Riley Financial reiterated a “buy” rating and issued a $29.00 price objective (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. Robert W. Baird lifted their price objective on Gentex from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Freedom Capital upgraded Gentex to a “strong-buy” rating in a research report on Friday, March 27th. One research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.83.

Gentex Price Performance

Shares of Gentex stock opened at $25.86 on Friday. The firm has a market cap of $5.51 billion, a P/E ratio of 14.53 and a beta of 0.79. The firm has a 50 day simple moving average of $23.28 and a 200 day simple moving average of $23.24. Gentex has a fifty-two week low of $20.48 and a fifty-two week high of $29.38.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $675.44 million for the quarter, compared to analyst estimates of $649.42 million. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.42 EPS. On average, sell-side analysts expect that Gentex will post 1.96 EPS for the current year.

Insider Buying and Selling at Gentex

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of the stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total value of $112,237.65. Following the sale, the director directly owned 81,443 shares in the company, valued at approximately $1,898,436.33. This trade represents a 5.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph B. Anderson, Jr. sold 5,939 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $22.98, for a total transaction of $136,478.22. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,693 shares of company stock valued at $385,194. 0.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gentex

Several large investors have recently modified their holdings of GNTX. Anchor Investment Management LLC bought a new stake in shares of Gentex in the first quarter worth about $26,000. AdvisorNet Financial Inc raised its holdings in shares of Gentex by 2,299.0% during the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock worth $52,000 after acquiring an additional 2,299 shares during the period. Arax Advisory Partners acquired a new stake in shares of Gentex during the fourth quarter worth $52,000. Employees Retirement System of Texas acquired a new stake in shares of Gentex during the fourth quarter worth $56,000. Finally, Clearstead Advisors LLC raised its holdings in shares of Gentex by 82.3% during the third quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after acquiring an additional 922 shares during the period. 86.76% of the stock is currently owned by institutional investors.

Gentex Company Profile

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).