Gentex Corporation (GNTX) Earns Buy Rating from KeyCorp

KeyCorp reiterated their buy rating on shares of Gentex Corporation (NASDAQ:GNTX) in a research report released on Sunday morning. The brokerage currently has a $25.00 price objective on the auto parts company’s stock.

Other analysts also recently issued reports about the company. Craig Hallum downgraded Gentex Corporation from a buy rating to a hold rating and set a $18.00 price objective for the company. in a research note on Monday, July 24th. BMO Capital Markets reaffirmed an outperform rating and set a $22.00 price objective (down from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. Robert W. Baird raised Gentex Corporation from a neutral rating to an outperform rating and upped their price objective for the company from $17.36 to $22.00 in a research note on Thursday, August 24th. Zacks Investment Research raised Gentex Corporation from a sell rating to a hold rating in a research note on Tuesday, August 29th. Finally, FBR & Co reaffirmed an outperform rating and set a $25.00 price objective on shares of Gentex Corporation in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Gentex Corporation presently has a consensus rating of Hold and an average target price of $22.19.

Shares of Gentex Corporation (NASDAQ GNTX) opened at 20.34 on Friday. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 16.14 and a beta of 1.18. Gentex Corporation has a 12-month low of $16.06 and a 12-month high of $22.12. The company’s 50-day moving average price is $19.28 and its 200 day moving average price is $18.97.

Gentex Corporation (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). The company had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $446.36 million. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts forecast that Gentex Corporation will post $1.27 EPS for the current fiscal year.

WARNING: “Gentex Corporation (GNTX) Earns Buy Rating from KeyCorp” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://ledgergazette.com/2017/10/18/gentex-corporation-gntx-earns-buy-rating-from-keycorp.html.

Gentex Corporation declared that its board has initiated a stock buyback program on Wednesday, August 23rd that allows the company to buyback 15,000,000 outstanding shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, October 5th. Gentex Corporation’s dividend payout ratio is presently 31.50%.

In other Gentex Corporation news, Chairman Fred Bauer sold 239,400 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the transaction, the chairman now owns 5,771,128 shares in the company, valued at approximately $100,013,648.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven R. Downing sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $157,600.00. Following the transaction, the chief financial officer now owns 47,362 shares in the company, valued at approximately $933,031.40. The disclosure for this sale can be found here. Insiders have sold a total of 251,720 shares of company stock worth $4,391,506 in the last quarter. 2.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Gentex Corporation by 4.4% during the 2nd quarter. BlackRock Inc. now owns 24,223,258 shares of the auto parts company’s stock worth $459,513,000 after purchasing an additional 1,009,789 shares during the period. Vanguard Group Inc. increased its position in Gentex Corporation by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,196,105 shares of the auto parts company’s stock worth $440,030,000 after purchasing an additional 358,903 shares during the period. State Street Corp increased its position in Gentex Corporation by 4.6% during the 1st quarter. State Street Corp now owns 7,765,951 shares of the auto parts company’s stock worth $165,651,000 after purchasing an additional 339,317 shares during the period. Schroder Investment Management Group increased its position in Gentex Corporation by 164.3% during the 2nd quarter. Schroder Investment Management Group now owns 6,666,657 shares of the auto parts company’s stock worth $124,467,000 after purchasing an additional 4,144,300 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Gentex Corporation by 22.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,357,501 shares of the auto parts company’s stock worth $82,659,000 after

Other analysts also recently issued reports about the company. Craig Hallum downgraded Gentex Corporation from a buy rating to a hold rating and set a $18.00 price objective for the company. in a research note on Monday, July 24th. BMO Capital Markets reaffirmed an outperform rating and set a $22.00 price objective (down from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. Robert W. Baird raised Gentex Corporation from a neutral rating to an outperform rating and upped their price objective for the company from $17.36 to $22.00 in a research note on Thursday, August 24th. Zacks Investment Research raised Gentex Corporation from a sell rating to a hold rating in a research note on Tuesday, August 29th. Finally, FBR & Co reaffirmed an outperform rating and set a $25.00 price objective on shares of Gentex Corporation in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Gentex Corporation presently has a consensus rating of Hold and an average target price of $22.19.

Shares of Gentex Corporation (NASDAQ GNTX) opened at 20.34 on Friday. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 16.14 and a beta of 1.18. Gentex Corporation has a 12-month low of $16.06 and a 12-month high of $22.12. The company’s 50-day moving average price is $19.28 and its 200 day moving average price is $18.97.

Gentex Corporation (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). The company had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $446.36 million. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. On average, equities research analysts forecast that Gentex Corporation will post $1.27 EPS for the current fiscal year.

WARNING: “Gentex Corporation (GNTX) Earns Buy Rating from KeyCorp” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://ledgergazette.com/2017/10/18/gentex-corporation-gntx-earns-buy-rating-from-keycorp.html.

Gentex Corporation declared that its board has initiated a stock buyback program on Wednesday, August 23rd that allows the company to buyback 15,000,000 outstanding shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, October 5th. Gentex Corporation’s dividend payout ratio is presently 31.50%.

In other Gentex Corporation news, Chairman Fred Bauer sold 239,400 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the transaction, the chairman now owns 5,771,128 shares in the company, valued at approximately $100,013,648.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven R. Downing sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $157,600.00. Following the transaction, the chief financial officer now owns 47,362 shares in the company, valued at approximately $933,031.40. The disclosure for this sale can be found here. Insiders have sold a total of 251,720 shares of company stock worth $4,391,506 in the last quarter. 2.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Gentex Corporation by 4.4% during the 2nd quarter. BlackRock Inc. now owns 24,223,258 shares of the auto parts company’s stock worth $459,513,000 after purchasing an additional 1,009,789 shares during the period. Vanguard Group Inc. increased its position in Gentex Corporation by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 23,196,105 shares of the auto parts company’s stock worth $440,030,000 after purchasing an additional 358,903 shares during the period. State Street Corp increased its position in Gentex Corporation by 4.6% during the 1st quarter. State Street Corp now owns 7,765,951 shares of the auto parts company’s stock worth $165,651,000 after purchasing an additional 339,317 shares during the period. Schroder Investment Management Group increased its position in Gentex Corporation by 164.3% during the 2nd quarter. Schroder Investment Management Group now owns 6,666,657 shares of the auto parts company’s stock worth $124,467,000 after purchasing an additional 4,144,300 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Gentex Corporation by 22.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,357,501 shares of the auto parts company’s stock worth $82,659,000 after purchasing an additional 813,219 shares during the period. Institutional investors own 80.78% of the company’s stock.

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.

Analyst Recommendations for Gentex Corporation (NASDAQ:GNTX)

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