Gentex (NASDAQ:GNTX) Downgraded by Wall Street Zen to “Hold”

Gentex (NASDAQ:GNTX) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other equities research analysts have also weighed in on GNTX. B. Riley Financial reduced their target price on Gentex from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, February 2nd. UBS Group set a $25.00 target price on shares of Gentex in a research report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Gentex in a research report on Thursday, January 22nd. Finally, Robert W. Baird set a $26.00 price objective on shares of Gentex in a research note on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and an average target price of $26.71.

Gentex Trading Down 1.2%

Shares of GNTX opened at $23.40 on Friday. The firm has a market capitalization of $5.04 billion, a PE ratio of 13.45 and a beta of 0.78. The stock’s 50 day moving average is $23.91 and its two-hundred day moving average is $25.07. Gentex has a twelve month low of $20.28 and a twelve month high of $29.38.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 30th. The auto parts company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The firm had revenue of $644.40 million for the quarter, compared to analysts’ expectations of $650.90 million. During the same quarter in the prior year, the firm earned $0.39 EPS. Gentex’s quarterly revenue was up 19.0% on a year-over-year basis. On average, sell-side analysts predict that Gentex will post 2.04 EPS for the current year.

Insider Transactions at Gentex

In other news, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the sale, the chief financial officer owned 59,430 shares of the company’s stock, valued at approximately $1,484,561.40. The trade was a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven R. Downing sold 35,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.75, for a total transaction of $866,250.00. Following the sale, the chief executive officer owned 211,670 shares of the company’s stock, valued at $5,238,832.50. This represents a 14.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 58,133 shares of company stock worth $1,442,313. 0.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Gentex

Institutional investors and hedge funds have recently made changes to their positions in the business. Addison Advisors LLC bought a new position in Gentex in the 2nd quarter worth about $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Gentex in the third quarter worth approximately $38,000. Clearstead Advisors LLC increased its holdings in Gentex by 82.3% during the 3rd quarter. Clearstead Advisors LLC now owns 2,042 shares of the auto parts company’s stock worth $58,000 after purchasing an additional 922 shares during the period. CIBC Private Wealth Group LLC raised its position in Gentex by 2,420.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,067 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 1,985 shares in the last quarter. Finally, Arax Advisory Partners purchased a new stake in shares of Gentex in the 4th quarter worth $52,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

About Gentex

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).