Gentex (NASDAQ:GNTX) Downgraded by StockNews.com

StockNews.com downgraded shares of Gentex (NASDAQ:GNTX - Free Report) from a buy rating to a hold rating in a report published on Wednesday.

Several other brokerages have also recently issued reports on GNTX. Guggenheim upped their target price on shares of Gentex from $40.00 to $41.00 and gave the company a buy rating in a report on Wednesday, April 17th. B. Riley boosted their target price on Gentex from $42.00 to $44.00 and gave the company a buy rating in a report on Wednesday, March 20th. The Goldman Sachs Group lifted their price target on Gentex from $31.00 to $35.00 and gave the stock a neutral rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. increased their price objective on Gentex from $36.00 to $37.00 and gave the company a neutral rating in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus target price of $37.83.

Gentex Trading Up 0.7 %

Shares of GNTX stock traded up $0.23 on Wednesday, reaching $34.98. 881,367 shares of the stock were exchanged, compared to its average volume of 1,405,361. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 0.76 and a beta of 0.98. The business's 50 day moving average price is $35.30 and its 200 day moving average price is $33.46. Gentex has a twelve month low of $25.86 and a twelve month high of $37.58.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings data on Friday, April 26th. The auto parts company reported $0.47 EPS for the quarter, missing analysts' consensus estimates of $0.48 by ($0.01). The business had revenue of $590.23 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. Equities research analysts forecast that Gentex will post 2.11 earnings per share for the current year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, April 5th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, April 4th. Gentex's dividend payout ratio is presently 25.40%.

Insider Buying and Selling at Gentex

In related news, CFO Kevin C. Nash sold 13,500 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer now owns 44,321 shares in the company, valued at $1,464,365.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Gentex

Several large investors have recently modified their holdings of the business. Neo Ivy Capital Management purchased a new stake in shares of Gentex during the fourth quarter worth about $29,000. National Bank of Canada FI lifted its stake in shares of Gentex by 159.1% during the 4th quarter. National Bank of Canada FI now owns 930 shares of the auto parts company's stock worth $30,000 after purchasing an additional 571 shares during the period. VisionPoint Advisory Group LLC boosted its holdings in shares of Gentex by 123.6% during the third quarter. VisionPoint Advisory Group LLC now owns 1,203 shares of the auto parts company's stock worth $39,000 after purchasing an additional 665 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Gentex in the fourth quarter valued at $46,000. Finally, LRI Investments LLC acquired a new position in Gentex in the first quarter valued at $93,000. 86.76% of the stock is currently owned by institutional investors and hedge funds.

About Gentex

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.