Gentex (NASDAQ:GNTX) Downgraded by BidaskClub to “Sell”

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

GNTX has been the topic of several other reports. Longbow Research reaffirmed a hold rating on shares of Cooper Tire & Rubber in a report on Sunday, July 7th. BMO Capital Markets reaffirmed a hold rating on shares of First Majestic Silver in a report on Tuesday, April 2nd. Finally, Zacks Investment Research raised Eutelsat Communications from a hold rating to a strong-buy rating and set a $21.00 target price on the stock in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $22.28.

Shares of GNTX opened at $23.88 on Thursday. The firm has a market cap of $6.10 billion, a P/E ratio of 14.74, a PEG ratio of 2.42 and a beta of 1.21. Gentex has a 12 month low of $17.80 and a 12 month high of $25.00. The stock’s 50-day moving average is $23.48.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Tuesday, July 9th. Gentex’s dividend payout ratio (DPR) is presently 28.40%.

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

Institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV bought a new stake in Gentex in the 1st quarter valued at about $27,000. Bremer Bank National Association bought a new stake in Gentex in the 1st quarter valued at about $29,000. Icon Wealth Partners LLC bought a new stake in Gentex in the 1st quarter valued at about $31,000. Carroll Financial Associates Inc. increased its position in Gentex by 159.1% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,285 shares of the auto parts company’s stock valued at $31,000 after buying an additional 789 shares in the last quarter. Finally, Dubuque Bank & Trust Co. bought a new stake in Gentex in the 1st quarter valued at about $33,000. 82.55% of the stock is owned by institutional investors and hedge funds.

About Gentex

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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Analyst Recommendations for Gentex (NASDAQ:GNTX)

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