BMO Capital Markets Reiterates Outperform Rating for Gentex Corporation (NASDAQ:GNTX)

Gentex Corporation (NASDAQ:GNTX)‘s stock had its “outperform” rating reissued by analysts at BMO Capital Markets in a report released on Monday. They presently have a $22.00 price target on the auto parts company’s stock, down from their previous price target of $25.00. BMO Capital Markets’ price target points to a potential upside of 26.73% from the company’s previous close.

GNTX has been the topic of several other reports. Zacks Investment Research cut shares of Gentex Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, March 30th. Wellington Shields cut shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research note on Thursday, May 4th. FBR & Co reissued an “outperform” rating and issued a $25.00 price objective on shares of Gentex Corporation in a research note on Monday. Finally, Craig Hallum cut shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.75.

Shares of Gentex Corporation (NASDAQ:GNTX) opened at 17.36 on Monday. The stock has a 50 day moving average of $18.60 and a 200-day moving average of $20.03. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 13.78 and a beta of 1.19. Gentex Corporation has a 1-year low of $16.06 and a 1-year high of $22.12.

Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.01. The firm had revenue of $443.10 million during the quarter, compared to analyst estimates of $446.36 million. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. Equities analysts anticipate that Gentex Corporation will post $1.30 EPS for the current fiscal year.

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In other news, Director John A. Mulder sold 10,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $19.22, for a total transaction of $192,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frederick A. Sotok sold 19,000 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $20.84, for a total transaction of $395,960.00. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in Gentex Corporation during the fourth quarter valued at approximately $1,515,000. Quadrature Capital Ltd acquired a new stake in Gentex Corporation during the fourth quarter valued at approximately $754,000. Teachers Advisors LLC raised its stake in Gentex Corporation by 17.8% in the fourth quarter. Teachers Advisors LLC now owns 392,756 shares of the auto parts company’s stock valued at $7,733,000 after buying an additional 59,358 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Gentex Corporation during the fourth quarter valued at approximately $300,000. Finally, Raymond James Trust N.A. acquired a new stake in Gentex Corporation during the first quarter valued at approximately $330,000. 82.83% of the stock is currently owned by institutional investors and hedge funds.

Gentex Corporation Company Profile

Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.

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