Today’s Market Runner: Does Gentex Corporation Have More Gas After Achieving 52-Week High?

Today's Market Runner: Does Gentex Corporation Have More Gas After Achieving 52 Week High?

The stock of Gentex Corporation (NASDAQ:GNTX) hit a new 52-week high and has $19.62 target or 7.00% above today’s $18.34 share price. The 6 months bullish chart indicates low risk for the $5.28B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $19.62 price target is reached, the company will be worth $369.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.40M shares traded hands. Gentex Corporation (NASDAQ:GNTX) has risen 15.42% since April 25, 2016 and is uptrending. It has outperformed by 9.40% the S&P500.

Analysts await Gentex Corporation (NASDAQ:GNTX) to report earnings on January, 26. They expect $0.31 earnings per share, up 3.33% or $0.01 from last year’s $0.3 per share. GNTX’s profit will be $89.25 million for 14.79 P/E if the $0.31 EPS becomes a reality. After $0.32 actual earnings per share reported by Gentex Corporation for the previous quarter, Wall Street now forecasts -3.13% negative EPS growth.

Gentex Corporation (NASDAQ:GNTX) Ratings Coverage

Out of 2 analysts covering Gentex Corp (NASDAQ:GNTX), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $22 is the highest target while $14 is the lowest. The $18.50 average target is 0.87% above today’s ($18.34) stock price. Gentex Corp has been the topic of 4 analyst reports since October 20, 2015 according to StockzIntelligence Inc. On Wednesday, January 27 the stock rating was downgraded by Robert W. Baird to “Neutral”. The stock has “Outperform” rating given by FBR Capital on Friday, October 21.

According to Zacks Investment Research, “Gentex Corporation is an international company that provides high-quality products to the worldwide automotive industry and North American fire protection market. The Company develops, manufactures and markets proprietary electro-optic products, including interior and exterior electrochromic, automatic-dimming Night Vision Safety automotive rearview mirrors that dim in proportion to the amount of headlight glare from trailing vehicle headlamps, and an extensive line of fire protection products for commercial applications.”

Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.41, from 1.26 in 2016Q1. The ratio fall, as 20 funds sold all Gentex Corporation shares owned while 115 reduced positions. 31 funds bought stakes while 139 increased positions. They now own 238.49 million shares or 6.47% less from 255.00 million shares in 2016Q1.
Old Natl Bancorporation In last reported 0.06% of its portfolio in the stock. Invest Management Of Virginia Ltd Liability last reported 0.3% of its portfolio in the stock. Bb&T Corp, a North Carolina-based fund reported 17,713 shares. Blackrock Institutional Trust Na owns 8.61 million shares or 0.02% of their US portfolio. The Florida-based Finemark Commercial Bank And Trust has invested 0.01% in Gentex Corporation (NASDAQ:GNTX). Us Bank De holds 0.01% or 225,321 shares in its portfolio. Blackrock Incorporated has 0% invested in the company for 166,153 shares. Moreover, Schwab Charles Invest Mngmt has 0.02% invested in Gentex Corporation (NASDAQ:GNTX) for 1.16 million shares. Zebra Capital Management Llc holds 0.45% of its portfolio in Gentex Corporation (NASDAQ:GNTX) for 82,843 shares. Commonwealth Of Pennsylvania Pub School Empls Retrmt System accumulated 0.02% or 55,593 shares. Moreover, Cranbrook Wealth Ltd Liability Corp has 0.02% invested in Gentex Corporation (NASDAQ:GNTX) for 2,000 shares. Crawford Counsel Inc owns 3.82M shares or 2.35% of their US portfolio. Orinda Asset Ltd Liability Corp, a California-based fund reported 3,832 shares. Columbia Wanger Asset Mgmt has invested 0.44% of its portfolio in Gentex Corporation (NASDAQ:GNTX). Cubist Systematic Strategies Limited Liability Co, a Connecticut-based fund reported 53,728 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 11 selling transactions for $24.20 million net activity. The insider Wallace James H sold 12,000 shares worth $201,352. 6,210 shares were sold by Nash Kevin C, worth $103,583 on Tuesday, October 25. 2,140 Gentex Corporation (NASDAQ:GNTX) shares with value of $35,310 were sold by Matthews Joseph E IV. 24,000 shares with value of $421,730 were sold by GOODE GARY F on Monday, July 25. MULDER JOHN A also sold $361,390 worth of Gentex Corporation (NASDAQ:GNTX) shares. The insider BAUER FRED sold $12.55M. Shares for $91,206 were sold by Ryan Scott P.

GNTX Company Profile

Gentex Corporation, incorporated on January 11, 1974, creates and makes 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 divisions include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows. The Company’s business involves designing, developing, manufacturing and marketing interior and exterior auto-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. The Firm also designs, develops and makes various electronics features that are additive to the interior and exterior automotive rearview mirrors, as well as interior visors and overhead consoles. The Firm ships its product to all of the automotive producing regions across the world.

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