Gentex (GNTX) Upgraded by ValuEngine to Buy

ValuEngine upgraded shares of Gentex (NASDAQ:GNTX) from a hold rating to a buy rating in a research report report published on Wednesday.

GNTX has been the topic of several other reports. Zacks Investment Research raised Gentex from a sell rating to a hold rating in a research report on Tuesday, August 29th. KeyCorp restated a buy rating and set a $25.00 target price on shares of Gentex in a research report on Sunday, October 15th. BidaskClub upgraded Gentex from a buy rating to a strong-buy rating in a research report on Friday, December 22nd. FBR & Co restated a buy rating and set a $25.00 target price on shares of Gentex in a research report on Wednesday, October 18th. Finally, B. Riley restated a buy rating on shares of Gentex in a research report on Wednesday, November 1st. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Gentex has a consensus rating of Buy and an average price target of $22.21.

Gentex (NASDAQ:GNTX) opened at $21.00 on Wednesday. The stock has a market capitalization of $5,950.00, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.70 and a beta of 1.22. Gentex has a 52 week low of $16.59 and a 52 week high of $22.12.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. The company had revenue of $438.63 million during the quarter, compared to analyst estimates of $452.42 million. Gentex had a return on equity of 18.45% and a net margin of 20.80%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. analysts forecast that Gentex will post 1.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Friday, January 5th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 4th. Gentex’s payout ratio is 31.75%.

A number of hedge funds have recently bought and sold shares of GNTX. Schroder Investment Management Group lifted its stake in Gentex by 164.3% in the 2nd quarter. Schroder Investment Management Group now owns 6,666,657 shares of the auto parts company’s stock worth $124,467,000 after purchasing an additional 4,144,300 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Gentex in the 3rd quarter worth approximately $20,369,000. BlackRock Inc. lifted its stake in Gentex by 4.4% in the 2nd quarter. BlackRock Inc. now owns 24,223,258 shares of the auto parts company’s stock worth $459,513,000 after purchasing an additional 1,009,789 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Gentex by 22.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,357,501 shares of the auto parts company’s stock worth $82,659,000 after purchasing an additional 813,219 shares in the last quarter. Finally, Riverbridge Partners LLC lifted its stake in Gentex by 12.6% in the 3rd quarter. Riverbridge Partners LLC now owns 5,273,063 shares of the auto parts company’s stock worth $104,407,000 after purchasing an additional 592,011 shares in the last quarter. Institutional investors own 81.72% of the company’s stock.

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Gentex Company Profile

Gentex Corporation designs and manufactures automatic-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. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.

Analyst Recommendations for Gentex (NASDAQ:GNTX)

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