Gencor Industries (NASDAQ:GENC) Shares Up 0.3% - Still a Buy?

Key Points

• Gencor's shares rose 0.3% to $14.66 (intraday high $14.85) on below‑average volume, with the 50‑day and 200‑day moving averages at $14.82 and $14.05 respectively.
• Analyst sentiment is bullish—MarketBeat shows an average rating of "Strong Buy" with a consensus price target of $17.60, supported by calls from Loop Capital, Freedom Capital and UBS.
• Several institutional investors have been adding positions, notably Teton Advisors (~$3.7M) and Essex (~$1.9M) establishing new stakes, and Gamco increasing its holding to 258,200 shares (~$3.35M).

Gencor Industries, Inc. (NASDAQ:GENC - Get Free Report)'s share price rose 0.3% on Monday . The company traded as high as $14.85 and last traded at $14.66. Approximately 23,281 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 30,288 shares. The stock had previously closed at $14.62.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GENC. Loop Capital set a $17.60 price target on shares of Gencor Industries in a report on Monday, February 9th. Freedom Capital raised Gencor Industries to a "strong-buy" rating in a report on Friday, February 6th. Finally, UBS Group restated a "buy" rating on shares of Gencor Industries in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. Based on data from MarketBeat.com, Gencor Industries presently has an average rating of "Strong Buy" and a consensus price target of $17.60.

Gencor Industries Stock Up 0.3%

The stock has a 50 day moving average of $14.82 and a 200 day moving average of $14.05. The company has a market capitalization of $214.89 million, a price-to-earnings ratio of 13.33 and a beta of 0.49.

Hedge Funds Weigh In On Gencor Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Teton Advisors LLC bought a new stake in shares of Gencor Industries in the 3rd quarter valued at $3,701,000. Essex Investment Management Co. LLC acquired a new stake in shares of Gencor Industries in the 3rd quarter worth about $1,898,000. Rothschild Wealth LLC bought a new position in shares of Gencor Industries in the fourth quarter valued at approximately $740,000. Gamco Investors INC. ET AL lifted its stake in Gencor Industries by 22.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 258,200 shares of the company's stock valued at $3,346,000 after acquiring an additional 47,600 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Gencor Industries during the third quarter valued at about $650,000.

About Gencor Industries

Gencor Industries, Inc, together with its subsidiaries, designs, manufactures, and sells heavy machinery used in the production of highway construction materials and environmental control equipment. It offers hot-mix asphalt plants to produce asphalt paving materials; related asphalt plant equipment, including hot-mix storage silos, fabric filtration systems, cold feed bins, and other plant components; and a range of mobile batch plants. The company also provides combustion systems that transform solid, liquid, or gaseous fuels into usable energy, or burn multiple fuels in asphalt and aggregate drying industries; and combustion systems for rotary dryers, kilns, fume and liquid incinerators, and fuel heaters, as well as industrial incinerators.

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