Gentex (NASDAQ:GNTX) Cut to Sell at BidaskClub

Share on StockTwits

BidaskClub downgraded shares of Gentex (NASDAQ:GNTX) from a hold rating to a sell rating in a research note published on Thursday morning, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets reissued a hold rating on shares of First Majestic Silver in a research note on Tuesday, April 2nd. Zacks Investment Research raised shares of Eutelsat Communications from a hold rating to a strong-buy rating and set a $21.00 target price on the stock in a research note on Wednesday, June 12th. Finally, Longbow Research reissued a hold rating on shares of Cooper Tire & Rubber in a research note on Sunday, July 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Gentex currently has an average rating of Hold and an average price target of $22.28.

NASDAQ:GNTX opened at $23.88 on Thursday. The stock’s 50-day moving average is $23.48. Gentex has a 52-week low of $17.80 and a 52-week high of $25.00. The company has a market cap of $6.10 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 2.42 and a beta of 1.21.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.01. Gentex had a net margin of 23.45% and a return on equity of 23.03%. The company had revenue of $468.60 million for the quarter, compared to the consensus estimate of $463.79 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue was up .7% compared to the same quarter last year. As a group, research analysts forecast that Gentex will post 1.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be paid a $0.115 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $0.46 dividend on an annualized basis and a yield of 1.93%. Gentex’s payout ratio is currently 28.40%.

In related news, Director Gary F. Goode sold 5,045 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $23.20, for a total value of $117,044.00. Following the sale, the director now owns 21,045 shares of the company’s stock, valued at $488,244. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

A number of institutional investors have recently modified their holdings of GNTX. LPL Financial LLC grew its holdings in Gentex by 59.2% during the fourth quarter. LPL Financial LLC now owns 50,944 shares of the auto parts company’s stock worth $1,030,000 after acquiring an additional 18,935 shares during the period. Great West Life Assurance Co. Can grew its holdings in Gentex by 4.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 218,275 shares of the auto parts company’s stock valued at $4,136,000 after purchasing an additional 8,486 shares during the period. Bessemer Group Inc. grew its holdings in Gentex by 20.4% in the fourth quarter. Bessemer Group Inc. now owns 3,891 shares of the auto parts company’s stock valued at $78,000 after purchasing an additional 658 shares during the period. Hsbc Holdings PLC grew its holdings in Gentex by 71.3% in the fourth quarter. Hsbc Holdings PLC now owns 69,531 shares of the auto parts company’s stock valued at $1,400,000 after purchasing an additional 28,947 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in Gentex by 10.2% in the fourth quarter. Commonwealth Bank of Australia now owns 18,300 shares of the auto parts company’s stock valued at $369,000 after purchasing an additional 1,700 shares during the period. 82.60% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Company Profile

Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

See Also: What are some reasons analysts would give stocks a buy rating?

Analyst Recommendations for Gentex (NASDAQ:GNTX)

Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply