Equities research analysts at Longbow Research started coverage on shares of Gentex (NASDAQ:GNTX) in a report released on Friday, The Fly reports. The brokerage set a “buy” rating on the auto parts company’s stock.
Several other brokerages have also issued reports on GNTX. Zacks Investment Research lowered Gentex from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. ValuEngine raised Gentex from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Robert W. Baird dropped their price target on Gentex from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, October 23rd. FBR & Co reaffirmed a “buy” rating and set a $25.00 price target on shares of Gentex in a research note on Wednesday, October 18th. Finally, B. Riley reaffirmed a “buy” rating on shares of Gentex in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $22.21.
Gentex (GNTX) opened at $21.47 on Friday. Gentex has a 52-week low of $16.59 and a 52-week high of $22.12. The company has a market capitalization of $6,092.55, a PE ratio of 17.04, a P/E/G ratio of 1.60 and a beta of 1.21.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aurora Investment Counsel bought a new stake in shares of Gentex in the 4th quarter valued at about $1,414,000. Sterling Capital Management LLC lifted its stake in shares of Gentex by 4.5% in the 3rd quarter. Sterling Capital Management LLC now owns 4,713,571 shares of the auto parts company’s stock valued at $93,329,000 after acquiring an additional 203,025 shares during the last quarter. Griffin Asset Management Inc. bought a new stake in shares of Gentex in the 3rd quarter valued at about $811,000. California Public Employees Retirement System lifted its stake in shares of Gentex by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 596,783 shares of the auto parts company’s stock valued at $11,816,000 after acquiring an additional 19,083 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Gentex in the 3rd quarter valued at about $501,000. 81.72% of the stock is owned by institutional investors.
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About Gentex
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.
