Gentex (NASDAQ:GNTX) Rating Increased to Buy at StockNews.com

Gentex (NASDAQ:GNTX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Other research analysts have also issued research reports about the company. Guggenheim upped their target price on Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. B. Riley increased their target price on Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their target price on shares of Gentex from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group raised their price target on shares of Gentex from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Gentex has a consensus rating of “Moderate Buy” and a consensus target price of $37.83.

Gentex Stock Performance

NASDAQ GNTX opened at $34.86 on Tuesday. The business’s 50 day moving average price is $35.46 and its 200-day moving average price is $33.28. Gentex has a fifty-two week low of $25.86 and a fifty-two week high of $37.58. The company has a market cap of $8.06 billion, a P/E ratio of 18.44, a P/E/G ratio of 0.75 and a beta of 0.98.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.01). The firm had revenue of $590.23 million for the quarter, compared to the consensus estimate of $600.38 million. Gentex had a net margin of 18.77% and a return on equity of 19.19%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. As a group, equities analysts predict that Gentex will post 2.11 EPS for the current year.

Insider Activity

In related news, CFO Kevin C. Nash sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $33.04, for a total value of $446,040.00. Following the completion of the transaction, the chief financial officer now owns 44,321 shares of the company’s stock, valued at $1,464,365.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Gentex

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Gentex by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after buying an additional 163,373 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Gentex by 27.9% during the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after purchasing an additional 1,905,356 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Gentex by 41.2% during the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after purchasing an additional 1,363,898 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Gentex by 8.5% in the 4th quarter. Burgundy Asset Management Ltd. now owns 4,169,029 shares of the auto parts company’s stock worth $136,160,000 after purchasing an additional 325,687 shares in the last quarter. Finally, Norges Bank purchased a new position in Gentex during the 4th quarter worth $89,843,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Company Profile

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.