BidaskClub Downgrades Gentex (GNTX) to Sell

Gentex (NASDAQ:GNTX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.

GNTX has been the topic of a number of other reports. JPMorgan Chase & Co. decreased their target price on Gentex from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 24th. Zacks Investment Research downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Friday, May 25th. ValuEngine upgraded Gentex from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Susquehanna Bancshares set a $25.00 target price on Gentex and gave the stock a “hold” rating in a research report on Sunday, April 22nd. Finally, Longbow Research reiterated a “buy” rating and issued a $28.00 target price on shares of Gentex in a research report on Monday, April 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $25.60.

Shares of Gentex stock opened at $23.02 on Friday. Gentex has a 52 week low of $16.59 and a 52 week high of $25.41. The stock has a market capitalization of $6.30 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.05 and a beta of 1.26.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, April 20th. The auto parts company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $465.42 million for the quarter, compared to the consensus estimate of $478.06 million. Gentex had a return on equity of 19.05% and a net margin of 23.27%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. sell-side analysts predict that Gentex will post 1.69 EPS for the current fiscal year.

Gentex announced that its Board of Directors has initiated a share repurchase plan on Friday, March 9th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Gentex news, Director John A. Mulder sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick A. Sotok sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $22.92, for a total value of $91,680.00. Following the sale, the director now owns 31,696 shares in the company, valued at $726,472.32. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of GNTX. Meeder Asset Management Inc. bought a new position in shares of Gentex during the first quarter valued at approximately $110,000. Suntrust Banks Inc. bought a new position in shares of Gentex during the first quarter valued at approximately $200,000. Columbia Asset Management bought a new position in shares of Gentex during the first quarter valued at approximately $253,000. Cove Street Capital LLC grew its stake in shares of Gentex by 2,558.5% during the first quarter. Cove Street Capital LLC now owns 11,086 shares of the auto parts company’s stock valued at $255,000 after buying an additional 10,669 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Gentex during the first quarter valued at approximately $261,000. Institutional investors and hedge funds own 82.45% of the company’s stock.

Gentex Company Profile

Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

Analyst Recommendations for Gentex (NASDAQ:GNTX)

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