Gentex Corporation GNTX reported third-quarter 2018 earnings per share of 42 cents, which came in-line with the Zacks Consensus Estimate. However, the bottom-line figure was higher than the year-ago quarter’s figure of 31 cents per share.During the quarter under review, the company reported net sales of $460.3 million, missing the Zacks Consensus Estimate of $472 million. However, the top line was higher than net sales of $438.6 million in third-quarter 2017.When compared with the company’s mid-July forecast of IHS for third-quarter 2018, light-vehicle production in primary markets declined by around 5%, leading to lower-than-expected unit shipments and revenues.Net income for third-quarter 2018 rose 23.4% to $111.3 million compared with $90.2 million in third-quarter 2017.Gentex Corporation Price, Consensus and EPS Surprise Gentex Corporation Price, Consensus and EPS Surprise | Gentex Corporation QuoteQuarter in DetailsDuring the reported quarter, the company recorded gross margin of 37.6%, down from the year-ago quarter figure of 39%. The gross margin was adversely impacted by approximately 60 basis points due to effects of tariffs.The company’s effective tax rate was 14.7%, down from 31% during third-quarter 2017, on account of impacts of the tax planning moves, and Tax Cuts and Jobs Act of 2017.During the quarter under review, auto-dimming mirror shipments in the North American market rose by 9% to 3.21 million and in International market it rose by 5% to 7.02 million. In total, it rose by 6% year over year to 10.2 million.Operating expenses during third-quarter 2018 were up 8% to $45.6 million in comparison with operating expenses of $42.2 million in third-quarter 2017, primarily due to increased staffing levels.Share RepurchaseDuring third-quarter 2018, the company repurchased 7.5 million common shares at an average price of $22.98 per share. As of Sep 30, 2018, the company had around 12.2 million shares remaining for repurchase.FinancialsGentex had cash and cash equivalents of $194 million as of Sep 30, 2018, compared with $569.7 million as of Dec 31, 2017.Currently, Gentex carries a Zacks Rank #4 (Sell).A few better-ranked stocks in the auto space are Allison Transmission Holdings, Inc. ALSN, AB Volvo VLVLY and Navistar International Corporation NAV. While both Allison Transmission and Volvo sport a Zacks Rank #1 (Strong Buy), Navistar has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Allison Transmission has an expected long-term growth rate of 10%. Over the past six months, shares of the company have surged 15.5%.Volvo has an expected long-term growth rate of 15%. Over the past two years, shares of the company have risen 36.4%.Navistar has an expected long-term growth rate of 5%. Over the past two years, shares of the company have risen 50.9%.Looking for Stocks with Skyrocketing Upside?Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Navistar International Corporation (NAV): Free Stock Analysis Report Gentex Corporation (GNTX): Free Stock Analysis Report AB Volvo (VLVLY): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research