Gentex (NASDAQ:GNTX) Receives New Coverage from Analysts at BNP Paribas

Investment analysts at BNP Paribas assumed coverage on shares of Gentex (NASDAQ:GNTXGet Rating) in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating on the auto parts company’s stock.

A number of other brokerages have also recently weighed in on GNTX. Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating and set a $38.00 price target on the stock in a research report on Wednesday, January 5th. StockNews.com began coverage on shares of Gentex in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group reduced their price target on shares of Gentex from $28.00 to $25.00 and set a “sell” rating on the stock in a research report on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Gentex presently has an average rating of “Buy” and a consensus price target of $34.65.

GNTX opened at $27.45 on Monday. The company has a fifty day moving average price of $29.62 and a two-hundred day moving average price of $33.11. Gentex has a 52 week low of $27.06 and a 52 week high of $37.90. The firm has a market capitalization of $6.49 billion, a PE ratio of 18.42, a P/E/G ratio of 1.51 and a beta of 0.97.

Gentex (NASDAQ:GNTXGet Rating) last released its earnings results on Friday, January 28th. The auto parts company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Gentex had a net margin of 20.84% and a return on equity of 18.74%. The firm had revenue of $419.80 million during the quarter, compared to analyst estimates of $417.52 million. During the same quarter in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. Equities analysts forecast that Gentex will post 1.58 earnings per share for the current fiscal year.

In other Gentex news, VP Matthew Chiodo sold 5,700 shares of Gentex stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $29.24, for a total value of $166,668.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven R. Downing sold 58,937 shares of Gentex stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $30.36, for a total transaction of $1,789,327.32. The disclosure for this sale can be found here. Insiders sold a total of 170,354 shares of company stock worth $5,206,731 over the last ninety days. 0.38% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. EdgePoint Investment Group Inc. increased its stake in Gentex by 97.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 7,793,008 shares of the auto parts company’s stock valued at $271,586,000 after buying an additional 3,856,036 shares during the last quarter. State Street Corp increased its stake in Gentex by 1.0% in the 4th quarter. State Street Corp now owns 6,314,445 shares of the auto parts company’s stock valued at $220,058,000 after buying an additional 65,579 shares during the last quarter. Boston Partners increased its stake in Gentex by 2.5% in the 3rd quarter. Boston Partners now owns 5,159,941 shares of the auto parts company’s stock valued at $170,199,000 after buying an additional 126,233 shares during the last quarter. Ceredex Value Advisors LLC increased its stake in Gentex by 24.2% in the 4th quarter. Ceredex Value Advisors LLC now owns 4,264,938 shares of the auto parts company’s stock valued at $148,633,000 after buying an additional 830,321 shares during the last quarter. Finally, Ariel Investments LLC increased its stake in shares of Gentex by 30.5% during the 4th quarter. Ariel Investments LLC now owns 4,248,656 shares of the auto parts company’s stock worth $148,065,000 after purchasing an additional 992,611 shares during the last quarter. Hedge funds and other institutional investors own 82.51% of the company’s stock.

About Gentex (Get Rating)

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.

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