Grandeur Peak Global Advisors LLC Takes Position in Gentex Corporation $GNTX

Grandeur Peak Global Advisors LLC bought a new position in Gentex Corporation (NASDAQ:GNTX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 56,554 shares of the auto parts company’s stock, valued at approximately $1,429,000.

Other institutional investors also recently modified their holdings of the company. Anchor Investment Management LLC bought a new position in Gentex in the 1st quarter worth approximately $26,000. Arax Advisory Partners bought a new stake in shares of Gentex during the fourth quarter valued at approximately $52,000. AdvisorNet Financial Inc raised its position in shares of Gentex by 2,299.0% during the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after buying an additional 2,299 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Gentex in the second quarter worth $54,000. Finally, Employees Retirement System of Texas purchased a new position in shares of Gentex in the fourth quarter worth $56,000. 86.76% of the stock is currently owned by institutional investors.

Gentex Stock Performance

GNTX stock opened at $23.06 on Friday. Gentex Corporation has a one year low of $20.48 and a one year high of $29.38. The firm’s fifty day moving average is $24.10 and its 200 day moving average is $23.48. The firm has a market cap of $4.91 billion, a PE ratio of 12.20 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The firm had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. During the same quarter last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Research analysts predict that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on GNTX shares. Freedom Capital downgraded shares of Gentex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. decreased their price target on Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. UBS Group restated a “neutral” rating and set a $25.00 price objective (down from $26.00) on shares of Gentex in a report on Thursday, July 9th. Finally, Wall Street Zen downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.80.

Gentex Company Profile

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).