Momentum Stock Watch: Gentex Corporation (GNTX)

Company Profile:

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. The company was founded in 1974 and is headquartered in Zeeland, Michigan.

Recent News:

For the first quarter of 2021, the Company reported net sales of $483.7 million, which was an increase of 7% compared to net sales of $453.8 million in the first quarter of 2020.
Net income increased 27% to $113.5 million for the first quarter of 2021 compared to net income of $89.5 million in the first quarter of 2020.

During the first quarter of 2021, the Company repurchased 2.8 million shares of its common stock at an average price of $35.46 per share. As of March 31, 2021, the Company has approximately 6.7 million shares remaining available for repurchase pursuant to its previously announced share repurchase plan.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

GNTX’s strengths can be seen in its strong profitability compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator. The RSI stands at 57.25 with positive bias. We rate Gentex Corporation (GNTX) a STRONG BUY.

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