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3 Reasons To Buy Gentex, According To Degas Wright

November 11, 2020 1:08 pm
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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:

  1. A backup of orders for their product
  2. Could benefit from the rotation out of tech
  3. It has some sound financials.

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