Grandeur Peak Global Advisors LLC Acquires Shares of 56,554 Gentex Corporation $GNTX

Grandeur Peak Global Advisors LLC bought a new stake in Gentex Corporation (NASDAQ:GNTX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,554 shares of the auto parts company’s stock, valued at approximately $1,429,000.

Several other large investors also recently added to or reduced their stakes in GNTX. XXEC Inc. acquired a new stake in Gentex during the second quarter worth $7,705,220,000. BlackRock Inc. acquired a new position in shares of Gentex in the 2nd quarter valued at $550,287,000. Bank of Montreal Can lifted its holdings in shares of Gentex by 14,398.7% during the 4th quarter. Bank of Montreal Can now owns 7,726,057 shares of the auto parts company’s stock worth $179,785,000 after acquiring an additional 7,672,769 shares during the period. Caisse de depot et placement du Quebec bought a new position in shares of Gentex during the 2nd quarter worth about $79,924,000. Finally, Norges Bank acquired a new stake in shares of Gentex during the 4th quarter valued at about $52,767,000. 86.76% of the stock is owned by institutional investors.

Gentex Stock Performance

Shares of GNTX stock opened at $23.06 on Friday. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 12.20 and a beta of 0.79. The company has a 50-day simple moving average of $24.10 and a 200 day simple moving average of $23.48. Gentex Corporation has a 52 week low of $20.48 and a 52 week high of $29.38.

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

Wall Street Analyst Weigh In

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

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).