Gentex (GNTX) Rating Increased to Buy at Zacks Investment Research
Gentex (NASDAQ:GNTX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com reports. The brokerage presently has a $25.00 target price on the auto parts company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.51% from the stock’s previous close.
According to Zacks, “In first-quarter 2019, Gentex’s earnings and revenues surpassed the Zacks Consensus Estimate. Revenues also improved year over year during the quarter. The company aims to attain long-term growth, driven by robust product launches, better mix and unique technology platforms. It pursues an aggressive capital-deployment strategy. Also, rising demand for its dimmable devices is adding to its growth momentum. However, high operating expenses, and pricing pressure from automotive customers and competitors are concerns for Gentex.”
A number of other analysts also recently issued reports on GNTX. BidaskClub downgraded shares of Gentex from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. ValuEngine raised shares of Gentex from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Wells Fargo & Co reissued a “buy” rating on shares of Gentex in a report on Wednesday, January 30th. Longbow Research downgraded shares of Gentex from a “buy” rating to a “neutral” rating and set a $20.65 price target on the stock. in a report on Tuesday, February 5th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $23.00 price target on shares of Gentex in a report on Monday, February 4th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Gentex currently has a consensus rating of “Hold” and an average target price of $22.28.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $468.60 million for the quarter, compared to the consensus estimate of $463.79 million. During the same period in the prior year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts forecast that Gentex will post 1.64 earnings per share for the current year.
In other Gentex news, VP Matthew Chiodo sold 3,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.82, for a total transaction of $62,460.00. Following the transaction, the vice president now directly owns 34,454 shares of the company’s stock, valued at $717,332.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Neil Boehm sold 2,686 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.82, for a total transaction of $55,922.52. Following the transaction, the insider now directly owns 42,883 shares in the company, valued at $892,824.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,009 shares of company stock worth $35,318 and have sold 10,731 shares worth $235,427. Company insiders own 0.37% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GNTX. Bremer Trust National Association purchased a new position in Gentex during the fourth quarter valued at $25,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Gentex during the fourth quarter valued at $27,000. Creative Financial Designs Inc. ADV purchased a new position in Gentex during the first quarter valued at $27,000. Bremer Bank National Association purchased a new position in Gentex during the first quarter valued at $29,000. Finally, Icon Wealth Partners LLC purchased a new position in Gentex during the first quarter valued at $31,000. 86.81% of the stock is currently owned by institutional investors and hedge funds.
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.
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