Gentex (NASDAQ:GNTX) Stock Rating Lowered by StockNews.com

Gentex (NASDAQ:GNTX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other brokerages also recently issued reports on GNTX. B. Riley increased their price objective on shares of Gentex from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Guggenheim lifted their price objective on shares of Gentex from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Gentex has an average rating of “Hold” and an average target price of $37.83.

Gentex Stock Down 0.9 %

GNTX stock opened at $33.45 on Thursday. Gentex has a twelve month low of $27.86 and a twelve month high of $37.58. The company has a market cap of $7.73 billion, a P/E ratio of 17.70, a PEG ratio of 0.95 and a beta of 0.93. The business has a fifty day moving average of $34.30 and a 200-day moving average of $34.38.

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

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 4,716 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $34.46, for a total value of $162,513.36. Following the sale, the director now owns 3,764 shares in the company, valued at $129,707.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GNTX. IFG Advisory LLC increased its stake in shares of Gentex by 85.1% in the fourth quarter. IFG Advisory LLC now owns 129,203 shares of the auto parts company’s stock valued at $4,220,000 after buying an additional 59,407 shares during the period. PNC Financial Services Group Inc. raised its holdings in Gentex by 129.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 111,827 shares of the auto parts company’s stock worth $3,652,000 after purchasing an additional 63,152 shares during the last quarter. TD Asset Management Inc raised its holdings in Gentex by 58.1% during the 4th quarter. TD Asset Management Inc now owns 3,313,757 shares of the auto parts company’s stock worth $108,227,000 after purchasing an additional 1,217,278 shares during the last quarter. Thematics Asset Management lifted its position in shares of Gentex by 51.2% in the 4th quarter. Thematics Asset Management now owns 523,207 shares of the auto parts company’s stock worth $17,088,000 after purchasing an additional 177,207 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Gentex by 0.7% during the fourth 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 period. 86.76% of the stock is owned by institutional investors.

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.