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Several other research analysts have also issued reports on the company. The Goldman Sachs Group raised Gentex from a “sell” rating to a “neutral” rating and increased their target price for the stock from $24.00 to $26.00 in a research report on Wednesday, December 14th. Guggenheim reduced their price objective on Gentex to $29.00 in a research report on Thursday, October 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Gentex has an average rating of “Moderate Buy” and a consensus price target of $30.80.
Gentex Price Performance
GNTX traded up $0.35 during midday trading on Friday, reaching $28.78. 698,480 shares of the company’s stock traded hands, compared to its average volume of 1,155,999. The firm has a fifty day moving average of $27.89 and a two-hundred day moving average of $27.19. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 0.96 and a beta of 0.93. Gentex has a 52 week low of $23.28 and a 52 week high of $35.65.
Gentex (NASDAQ:GNTX – Get Rating) last released its quarterly earnings results on Friday, October 28th. The auto parts company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.08). Gentex had a net margin of 17.17% and a return on equity of 16.06%. The business had revenue of $493.64 million for the quarter, compared to the consensus estimate of $494.82 million. During the same period in the previous year, the company earned $0.32 EPS. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. Sell-side analysts forecast that Gentex will post 1.38 EPS for the current year.
Insider Buying and Selling at Gentex
In other Gentex news, CEO Steven R. Downing bought 10,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were acquired at an average cost of $25.74 per share, for a total transaction of $257,400.00. Following the purchase, the chief executive officer now owns 118,506 shares in the company, valued at approximately $3,050,344.44. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director James H. Wallace sold 14,000 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $26.04, for a total value of $364,560.00. Following the transaction, the director now directly owns 14,709 shares in the company, valued at approximately $383,022.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Steven R. Downing purchased 10,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was purchased at an average price of $25.74 per share, for a total transaction of $257,400.00. Following the completion of the purchase, the chief executive officer now owns 118,506 shares in the company, valued at $3,050,344.44. The disclosure for this purchase can be found here. Company insiders own 0.16% of the company’s stock.
Hedge Funds Weigh In On Gentex
Institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Gentex by 3,112.9% in the 4th quarter. Allworth Financial LP now owns 996 shares of the auto parts company’s stock worth $27,000 after buying an additional 965 shares during the last quarter. Wagner Wealth Management LLC purchased a new position in Gentex during the second quarter valued at $28,000. Creative Financial Designs Inc. ADV lifted its position in Gentex by 659.7% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,094 shares of the auto parts company’s stock valued at $26,000 after purchasing an additional 950 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in Gentex by 2,065.5% during the third quarter. Eagle Bay Advisors LLC now owns 1,191 shares of the auto parts company’s stock valued at $28,000 after purchasing an additional 1,136 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in Gentex by 63.1% during the second quarter. National Bank of Canada FI now owns 1,523 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 589 shares in the last quarter. 83.80% of the stock is currently owned by hedge funds and other institutional investors.
Gentex Company Profile
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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