Gentex (NASDAQ:GNTX) Stock Rating Lowered by Wall Street Zen

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

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

Gentex Stock Performance

GNTX opened at $23.40 on Friday. The stock has a market capitalization of $5.04 billion, a PE ratio of 13.45 and a beta of 0.76. The stock’s 50 day moving average price is $23.91 and its 200-day moving average price is $25.04. Gentex has a 52-week low of $20.28 and a 52-week high of $29.38.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $644.40 million during the quarter, compared to analyst estimates of $650.90 million. Gentex had a return on equity of 16.05% and a net margin of 15.19%.The firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. Research analysts forecast that Gentex will post 2.04 EPS for the current fiscal year.

Insider Activity at Gentex

In related news, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the transaction, the chief financial officer directly owned 59,430 shares in the company, valued at $1,484,561.40. The trade was a 16.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Neil Boehm sold 11,248 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total transaction of $279,175.36. Following the transaction, the chief technology officer owned 58,951 shares in the company, valued at approximately $1,463,163.82. This trade represents a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 58,133 shares of company stock valued at $1,442,313 over the last 90 days. Corporate insiders own 0.45% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Clearstead Advisors LLC grew its stake in shares of Gentex by 21.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 437 shares during the period. Gagnon Securities LLC boosted its holdings in shares of Gentex by 0.8% in the fourth quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock worth $1,295,000 after buying an additional 458 shares during the last quarter. CWM LLC grew its position in Gentex by 5.1% during the third quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock valued at $273,000 after buying an additional 467 shares during the period. Arizona State Retirement System increased its holdings in Gentex by 0.7% during the third quarter. Arizona State Retirement System now owns 66,519 shares of the auto parts company’s stock valued at $1,882,000 after buying an additional 487 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its holdings in Gentex by 1.9% during the fourth quarter. First Citizens Bank & Trust Co. now owns 29,807 shares of the auto parts company’s stock valued at $694,000 after buying an additional 559 shares during the last quarter. 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).