3 Reasons To Buy Gentex, According To Degas Wright
On CNBC's "Fast Money Halftime Report," Degas Wright discussed why he bought Gentex (NASDAQ:GNTX).
Gentex rear-view mirror dimmers, making them an automotive component manufacturer. Wright has a connection to a car dealer that told him there is a shortage of supply, meaning there is a backup of orders for this company.
"They're doing the good work, and they're doing a great product," said Wright.
The company's earnings surprised at about 17%, sales surprised about 3% and the operating cash flow yields around 11%, said Wright.
"Great company to hold and it's in the consumer discretionary space, and we're moving towards that, getting away from tech," said Wright.
Three reasons to buy Gentex include:
- A backup of orders for their product
- Could benefit from the rotation out of tech
- It has some sound financials.
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