11-27-2018: Gentex Corporation (GNTX): Auto Parts Mirrors, Cameras, Remote Management

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Gentex Corporation

Gentex Corporation is a Michigan-based manufacturer of auto accessories such as rear view mirrors, cameras, bio-identification devices, dimming devices, as well as alarm and carbon monoxide detection and signaling equipment, fire detection, sound systems used in aircraft and hotels, and equipment to integrate remotely with home protection systems. The current form of the company was begun in the mid-1970's.

Our first look revealed that auto parts is one of the very weakest performing stock industry groups of late. Gentex is one of the strongest performers in that group, however. There are several outstanding features in a review that jump out such as a very high Zenith Index indicating fundamental strength, very modestly compensated executives indicating good corporate governance, a well-written management discussion, the highest five-star rating from Standard & Poor's, and a rare eight out of eight favorable rating from the "Val-Idea Gurus."

Institutions are net sellers, but Dimensional Fund Advisors is a prominent shareholder, which we regard as a favorable sign because DFA uses analyses similar to ours in selecting stocks.

Chartwise, we saw a significant dip in share price between September and November of this year which is unexplained except for an occasional miss in expectations earnings report. Several management changes appeared to follow this, and the stock is well on its way to going back up again. However it could be heading into becoming a stable channeling stock in the $22-24/share range, currently somewhere in the middle and tradeable in that range.

News on this corporation consists mainly of announcements of development of new innovative products in automotive, aerospace, and fire protection areas which segments it recognizes, and considerable effort to exploit "HomeLink" devices for remote control of residential devices. It makes strategic acquisitions and partnerships.

The corporation has an excellent website which explains its products very well. It contains a CEO Letter to Shareholders which is becoming increasingly rare in American stocks lately, which indicates shareholder concern. The corporation currently pays nearly a 2% dividend. This is a well-run corporation which we particularly like and see a lot of possibilities with high intrinsic (growth potential) value.



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Gentex Corporation (GNTX)                                 Exchange: Nasdaq
600 North Centennial Street
Zeeland, MI 49464                Sector: Consumer Cyclical
United States                    Industry: Auto Parts

Gentex Corporation provides automatic-dimming and non-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 worldwide. It
designs, develops, manufactures, and markets automotive products,
including interior and exterior electrochromic automatic-dimming
rearview mirrors, automotive electronics, and interior and exterior
non-automatic-dimming rearview mirrors with electronic features for
automotive passenger cars, light trucks, pick-up trucks, sport utility
vehicles, and vans for original equipment manufacturers, tier one
automotive mirror manufacturers, and various aftermarket and accessory
customers. The company also provides photoelectric smoke detectors and
alarms, audible and visual signaling alarms, electrochemical carbon
monoxide detectors and alarms, and bells and speakers for use in fire
detection systems in office buildings, hotels, and other commercial and
residential establishments. Gentex Corporation sells its fire protection
products directly, as well as through sales managers and manufacturer
representative organizations to fire protection and security product
distributors, electrical wholesale houses, and original equipment
manufacturers of fire protection systems. The company was founded in
1974 and is headquartered in Zeeland, Michigan.

Last Trade:  22.35                           52-Week Range:  25.41 -  17.80
Employees: 5,481                             Avg.Volume:   2,471,288 Shares

Corporate Governance:
Pillar scores are Audit: 2; Board: 3; Shareholder Rights: 5; Compensation: 9.
         (A lower number means less governance risk.)

EPS:  1.67    Dividend Amount: $ 0.44          Yield:  1.95%
             Ex-Dividend Date: Oct 3, 2018     Payout Ratio:  25.75

Key Statistics:

    Trailing P/E:  13.40              Forward P/E (est.):  12.73
                                           Target Price:  21.83

Qrtly Stock Price Growth (yoy):  15.56%               Beta:   0.00
Qrtly S&P Index   Growth (yoy):   4.90%        Short Ratio:   4.15%
    Qrtly Revenue Growth (yoy):   1.86%         Shares Out:  262120000
   Qrtly Earnings Growth (yoy):  23.40%

          Book Value:   7.03                    Debt/Equity:   0.00%
    Price/Book Value:   3.19        Operating Profit Margin:  28.07%
         Price/Sales:   3.19                  Profit Margin:  25.11%
         Market Cap:   5,874,000,000       Return on Equity:  23.88%
    Enterprise Value:   5,560,000,000      Return on Assets:  14.54%

    Operating Cash Flow:    546,650,000
         Free Cash Flow:    241,450,000



Annual Income Statement:                          (All numbers in thousands)
  Period Ending                             12/31/2017  12/31/2016  12/31/2015

  Total Revenue                              1,794,873   1,678,925   1,543,618
  Cost of Revenue                            1,100,344   1,010,473     939,842
  Gross Profit                                 694,528     668,452     603,776

Operating Expenses:
  Research & Development                        99,726      94,238      88,393
  Selling, General & Administrative             71,443      62,471      56,617
  Non-Recurring Expenses                             0           0           0
  Other Operating Expenses                           0           0           0
  Total Operating Expenses                   1,271,514   1,167,182   1,084,851

Operating Income or Loss                       523,358     511,743     458,766

Income from Continuing Operations:
  Total Other Income/Expenses Net                8,438      -1,182       4,825
  Earnings Before Interest & Taxes             523,358                511,743  E
arnings Before Interest & Taxes             458,766
  Interest Expense                              -4,340      -5,640      -1,081
  Income Before Taxes                          531,797     510,561     463,591
  Income Tax Expense                           125,005     162,970     145,122
  Minority Interest                                  0           0           0

Net Income from Continuing Op.s                406,792     347,591     318,470

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                   406,792     347,591     318,470
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares              406,792     347,591     318,470



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         12/31/2017    12/31/2016    12/31/2015

  Net Income                               406,792       347,591       318,470

Operating Activities:
  Depreciation                              99,571        88,587        80,599
  Adjustments to Net Income                  2,558        42,305        27,974
  Changes in Accounts Recv'bls             -19,530       -15,622       -27,961
  Changes in Liabilities                     9,935        13,610        -5,103
  Changes in Investories                   -27,454       -14,616       -32,938
  Changes in other Oper'g Acts              29,131        15,193        -6,625

Total Cash Flow f Operations               501,003       477,048       354,416

Investing Activities:
  Capital Exenditures                     -104,041      -120,956       -97,942
  Investments                               23,433      -123,878        11,003
  Other Cash Flows fr Investing              2,646        -7,278        -2,843

Total Cash Flows from Investing            -77,713      -251,446       -89,738

Financing Activities:
  Dividends Paid                          -108,815      -101,131       -96,990
  Sale of Purchase of Stock                      0             0             0
  Net Borrowings                          -107,625       -47,500       -32,500
  Other Cash Flows fr Financing                  0             0        -2,843

Total Cash Flows from Financing           -400,033      -230,683      -210,551

  Effect of Exchange Rate Chg                    0             0             0

Change in Cash & Cash Equiv.                23,257        -5,080        54,128



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          12/31/2017    12/31/2016    12/31/2015
Current Assets:
  Cash & Cash Equivalents                   569,735       546,477       551,558
  Short Term Investments                    152,538       177,021         4,547
  Net Receivables                           231,122       211,592       195,969
  Inventory                                 216,766       189,311       174,695
  Other Current Assets                            0             0             0
  Total Current Assets                    1,475,236       947,380       922,222

  Long-Term Investments                      57,782        49,894        95,157
  Property, Plant & Equipt                  492,479       465,822       412,720
  Goodwill                                  307,366       307,366       307,366
  Intangible Assets                         309,863       331,548       349,421
  Accumulated Amortization                        0             0             0
  Other Assets                                    0             0             0
  Deferred LT Asset Charges                       0             0             0

Total Assets                              2,352,054     2,309,620     2,148,673

Current Liabilities:
  Accounts Payable                           89,898        79,964        66,354
  Current Portion LT Debt                    78,231         9,342        10,447
  Other Current Liabilities                  28,388        26,469        24,908
  Total Current Liabilities                 196,517       115,775        101,709

  Long Term Debt                             89,898        79,964        66,354
  Other Liabilities                          78,231         9,342        10,447
  Deferred LT Liab. Charges                  28,388        26,469        24,908
  Minority Interest                               0             0             0
  Negative Goodwill                               0             0             0

Total Liabilities                           255,406       365,112       171,234

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                               16,817        17,264        17,480
  Retained Earnings                       1,301,997     1,210,985     1,109,385
  Treasury Stock                              7,193        -1,271        -1,131
  Capital Surplus                           723,511       683,446       596,783
  Other Stockhohlder Equity                   7,193        -1,271        -1,131
  Total Stockholder Equity                2,049,518     1,910,424     1,722,517

Net Tangible Assets                       1,432,290     1,271,510     1,065,729



Gentex Corporation (GNTX)                   [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            2.0896          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  3.0000          Forward P/E Ratio < 28?    2.1995
Price/Sales Ratio < 2.3?   0.7210          Inventory/Sales < 5%?      0.4140
Sales < $1 Billion?        0.5571          Operating Margin < 7.5%?   0.2672

Balance Sheet Tests:
Debt/Equity < 0.40?        1.0000          Long-Term Debt Service:    3.0000
LTD Being Reduced?         3.0000          Short-Term Debt Service:  -3.0000
Current Ratio > 2?         3.0000          Working Capital >= 1.5?    0.2025
Leverage Ratio < 20%?      3.0000          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    0.1705
Share Equity Increase:     2.1819          Market Cap.< 1.5 Billion?  0.2554
                                           Intangibles < 3% Assets?   0.1143
Income Tests:
Profit Margin < 7.5%?      3.0000          EPS Annual Growth > 10%?   0.0854
Dividend Yield > 2.0%?     1.0256          EPS 3-yr Growth > 15?      0.1174
Enterprise Value/Revenue   3.0000          EPS Growth Consistent?     2.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      0.9574
EPS Qrtly Growth > 10%?    0.0043          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%?  3.0000
Stock Performance Tests:
Volatility > 25%?          1.1980          % Held by Insiders < 5%?   3.0000
Beta > 1.25?               0.0000          % Held by Institut. < 50?  0.5654
50 Da MA > 200 Da MA?     -0.2430          % Held by Institut. > 30?  2.9480
52-Wk Change vs. S&P 500:  3.0000          Short Ratio > 5?           0.8300
Price/Book Value < 3?      0.9436          Short % of Float > 20?     0.2505
Return on Assets > 17%?    0.8553          Average Volume > 100,000?  3.0000

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  2.2640          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  2.3327
                                           Cash Flow / Assets > 10%?  3.0000

GNTX   Gentex Corporation                  Overall Zenith Index:      1.5987


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Financial Statements

GENTEX CORP  (GNTX)                         INCOME STATEMENT

Fiscal year ends in December.                        2013-12         2014-12         2015-12         2016-12         2017-12             TTM           

Revenue                                        1,171,864,192   1,375,501,184   1,543,617,664   1,678,924,800   1,794,872,576   1,840,225,408
Cost of revenue                                  741,131,264     836,611,456     939,841,664   1,010,472,512   1,100,344,320   1,141,512,320
Gross profit                                     430,732,896     538,889,664     603,776,064     668,452,224     694,528,256     698,713,216


Operating expenses
Research and development                          76,495,048      84,175,736      88,392,920      94,238,032      99,726,440     104,699,216
Sales, General and administrative                 49,496,040      55,879,784      56,616,696      62,471,276      71,443,472      77,393,656
Total operating expenses                         125,991,088     140,055,520     145,009,616     156,709,312     171,169,920     182,092,864

Operating income                                 304,741,824     398,834,176     458,766,432     511,742,944     523,358,336     516,620,320
Other income (expense)                            23,322,230      16,492,316       4,825,017      -1,182,162       8,438,352      12,803,004
Income before taxes                              328,064,032     415,326,496     463,591,456     510,560,768     531,796,704     529,423,328
Provision for income taxes                       105,134,096     126,721,912     145,121,600     162,969,504     125,004,784      67,345,880
Net income from continuing operations            222,929,952     288,604,576     318,469,856     347,591,264     406,791,936     462,077,440
Net income                                       222,929,952     288,604,576     318,469,856     347,591,264     406,791,936     462,077,440
Net income available to common shareholders      222,929,952     288,604,576     318,469,856     347,591,264     406,791,936     462,077,440

Earnings per share
Basic                                                   0.78            0.99            1.09            1.21            1.42            1.68 
Diluted                                                 0.78            0.98            1.08            1.19            1.41            1.67 

Weighted average shares outstanding
Basic                                            286,920,032     290,952,128     293,096,224     288,433,760     285,864,992     274,203,584
Diluted                                          288,548,352     294,299,360     296,237,888     291,072,320     288,226,080     275,980,096

____________________________________________________________________________________________________________________________________________


GENTEX CORP  (GNTX)                         BALANCE SHEET

Fiscal year ends in December.                        2013-12         2014-12         2015-12         2016-12         2017-12             

Assets

Current assets

Cash

Short-term investments                                     0               0       4,547,355     177,021,200     152,538,048
Total cash                                       309,591,712     497,429,792     556,104,896     723,498,240     722,272,576

Receivables                                      143,046,592     168,008,704     195,969,408     211,591,744     231,121,792
Inventories                                      120,074,160     141,757,888     174,695,408     189,311,440     216,765,584
Prepaid expenses                                  28,473,764      49,441,304      57,239,100      30,587,576      14,403,902
Total current assets                             601,186,240     856,637,696     984,008,768   1,154,989,056   1,184,563,840

Non-current assets

Property, plant and equipment
Gross property, plant and equipment              772,441,344     842,271,680     933,980,864   1,047,053,760   1,144,262,528
Accumulated Depreciation                        -415,420,160    -468,880,672    -521,260,576    -581,231,296    -651,783,168
Net property, plant and equipment                357,021,216     373,390,976     412,720,256     465,822,464     492,479,328

Equity and other investments                     107,005,520     114,642,568      95,156,536      49,894,364      57,782,416
Goodwill                                         307,365,856     307,365,856     307,365,856     307,365,856     307,365,856
Intangible assets                                391,509,600     370,502,944     349,421,472     331,548,128     309,862,496
Total non-current assets                       1,162,902,144   1,165,902,336   1,164,664,192   1,154,630,784   1,167,490,048

Total assets                                   1,764,088,448   2,022,540,032   2,148,673,024   2,309,619,712   2,352,054,016 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Short-term debt                                    7,500,000       7,500,000       7,500,000       7,500,000      78,000,000
Accounts payable                                  56,510,320      71,456,984      66,353,776      79,963,632      89,898,464
Taxes payable                                     13,316,102         768,142         148,251         572,834         360,014
Accrued liabilities                               17,145,316      21,035,730      19,697,622      24,310,424      33,163,072
Other current liabilities                         25,508,674      32,670,308      37,306,900      37,511,092      42,225,452
Total current liabilities                        119,980,416     133,431,160     131,006,544     149,857,984     243,647,008

Non-current liabilities
Long-term debt                                   265,624,992     258,124,992     225,624,992     178,124,992               0
Deferred taxes liabilities                        50,879,336      59,571,420      69,524,624      71,212,624      58,888,644
Total non-current liabilities                    316,504,352     317,696,416     295,149,632     249,337,616      58,888,644

Total liabilities                                436,484,736     451,127,584     426,156,160     399,195,584     302,535,648 

Stockholders' equity

Common stock                                       8,734,681      17,714,876      17,480,280      17,264,252      16,816,880
Other Equity                                               0        -959,206      -1,915,834      -1,197,281         -78,026
Additional paid-in capital                       478,865,792     553,836,480     596,782,720     683,446,464     723,510,656
Retained earnings                                818,027,840     988,548,096   1,109,384,576   1,210,984,832   1,301,997,312
Accumulated other comprehensive income            21,975,364      12,272,221         784,998         -74,024       7,271,409
Total stockholders' equity                     1,327,603,712   1,571,412,480   1,722,516,736   1,910,424,192   2,049,518,208
Total liabilities and stockholders' equity     1,764,088,448   2,022,540,032   2,148,673,024   2,309,619,712   2,352,054,016

____________________________________________________________________________________________________________________________________________


GENTEX CORP  (GNTX)                         Statement of CASH FLOW

Fiscal year ends in December. USD.                   2013-12         2014-12         2015-12         2016-12         2017-12             TTM           

Cash Flows From Operating Activities
Net income                                       222,929,952     288,604,576     318,469,856     347,591,264     406,791,936     462,077,440
Depreciation & amortization                       62,854,156      77,376,304      80,599,168      88,587,432      99,570,912     105,460,632
Investments losses (gains)                       -18,129,512     -15,592,909      -6,960,881        -320,197        -933,778        -994,281
Deferred income taxes                             -7,726,800      14,817,959      13,058,458      22,498,360     -14,996,179     -27,389,734
Stock based compensation                          17,427,232      21,276,992      21,430,992      19,192,700      18,376,964      18,844,718
Change in working capital                         42,320,776     -54,353,984     -72,626,496      -1,435,609      -7,918,082     -11,212,546
Accounts receivable                              -22,347,450     -24,962,114     -27,960,696     -15,622,345     -19,530,044      -6,816,287
Inventory                                         39,856,104     -21,683,720     -32,937,524     -14,616,026     -27,454,146      -6,736,220
Prepaid expenses                                  -2,374,913     -21,946,622      -9,530,002       4,399,366      16,183,673     -13,154,704
Accounts payable                                  13,310,319      14,946,662      -5,103,209      13,609,856       9,934,837      10,138,447
Accrued liabilities                               13,876,720        -708,190       2,904,940      10,793,540      12,947,597       5,356,218
Other non-cash items                              -2,336,974      -4,905,831      -2,392,677      -4,649,166         111,024        -132,253
Net cash provided by operating activities        317,338,816     327,223,104     351,578,432     471,464,800     501,002,784     546,653,952

Cash Flows From Investing Activities
Investments in property, plant, and equipmen     -55,380,456     -72,518,984     -97,941,760    -120,955,616    -104,040,920     -86,700,272
Property, plant, and equipment reductions            386,399         223,833          43,544         665,191         249,757         251,201
Acquisitions, net                               -698,150,912               0               0               0               0               0
Purchases of investments                         -60,543,152     -80,887,360     -47,513,972    -216,670,672     -29,874,960    -192,470,048
Sales/Maturities of investments                  181,005,056      75,613,808      58,517,164      92,793,152      53,307,524     138,289,392
Other investing activities                          -573,560      -2,144,779      -2,842,635      -7,278,166       2,646,029      -4,343,416
Net cash used for investing activities          -633,256,640     -79,713,480     -89,737,664    -251,446,112     -77,712,568    -144,973,152

Cash Flows From Financing Activities
Debt issued                                      275,000,000               0               0               0               0               0
Debt repayment                                    -1,875,000      -7,500,000     -32,500,000     -47,500,000    -107,625,000    -107,500,000
Common stock issued                               38,377,572      59,969,008      30,168,496      81,310,048      47,770,468      77,253,384
Common stock repurchased                                   0     -30,010,882    -111,228,824    -163,361,216    -231,363,216    -623,285,184
Excess tax benefit from stock based compe          4,445,064       5,502,339       2,837,727       5,583,391               0               0
Dividend paid                                    -79,160,344     -87,632,008     -96,990,440    -101,131,360    -108,815,040    -116,131,760
Other financing activities                          -956,441               0               0               0               0               0
Net cash provided by (used for) financing        235,830,848     -59,671,544    -207,713,040    -225,099,136    -400,032,800    -769,663,552

Net change in cash                               -80,086,944     187,838,080      54,127,724      -5,080,452      23,257,420    -367,982,720
Cash at beginning of period                      389,678,656     309,591,712     497,429,792     551,557,504     546,477,056     561,999,744
Cash at end of period                            309,591,712     497,429,792     551,557,504     546,477,056     569,734,528     194,017,040

Free Cash Flow
Operating cash flow                              317,338,816     327,223,104     351,578,432     471,464,800     501,002,784     546,653,952
Capital expenditure                              -55,380,456     -72,518,984     -97,941,760    -120,955,616    -104,040,920     -86,700,272
Free cash flow                                   261,958,368     254,704,128     253,636,656     350,509,184     396,961,856     459,953,696
____________________________________________________________________________________________________________________________________________





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Average to Current P/E Ratios
              (GNTX)     Gentex Corp.

                               2013    2014    2015    2016    2017

          Annual Earnings:     0.78    0.98    1.08    1.19    1.41
Average Price During Year:    11.40   15.19   16.86   16.36   19.50

                P/E Ratio:    14.61   15.50   15.61   13.75   13.83

 Average 5-Year P/E Ratio  =  14.66
             Current Price =  22.41

Previous 5 Quarter Earnings:   0.31    0.46    0.40    0.40    0.42

           Current Annualized (Last Four Quarters) Earnings =   1.22
                                                           ________
                                 Average PE / Current PE =     0.80
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Financial Ratios

. . . . . . . . . . . . Lowest to Highest, Compared to Industry



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Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



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Fair Value Estimator

Fair Value Estimate:

Fair ValueFair Value



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Projected Earnings

Earnings Estimates



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Research Reports

Click Here for Research Reports



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Analysts' Opinions

Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 1
Analysts' Opinion 2



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Insider Activity

Insiders Chart Insider Trades
Insider Trades
Executive Compensation Executive Compensation



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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for GENTEX CORP.:
Symbol? GNTX
Total Months Available:  25
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  24.07   19.01     25.41   21.82     24.94   17.80

RANGE   =  25.41  TO   17.80            Close =  22.35
CHANNEL =  24.07  TO   21.82           Degree =   3
Volatility =  10.07%                    Index =   3
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

8 out of 8 favorable, (extremely positive opinion.)

Val Idea


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Stock Consultant

Stock Consultant Stock Consultant


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Point & Figure Chart

P & F Chart


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Wall Street Analyzer



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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

3 out of 3 of the ultimate systems favor a downmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry - 1
Bond Issue 0
Zenith Index + 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow - 1
Average to Current P/E - 1
Ratios + 1
Intrinsic Value DCF + 1
Fair Value Estimator + 1
Projected Earnings + 1
Research Reports + 1
Analysts + 1
Executive Perquisites + 1
Insider Activity - 1
Institutional Activity - 1
Management Reporting + 1
Short Interest - 1
Sentiment + 1
Standard & Poor's + 1
MACD Histogram Divergence + 1
Val Idea + 1
Stock Consultant - 1
Point & Figure - 1
Wall Street Analyzer + 1
Marketspace Chart + 1
Time Series Chart - 1
Neural Network + 1
Stock Options + 1
Ultimate Trading Systems - 1
Total + 6
Place 1,340 shares of Gentex Corporation (GNTX) on the Active List.