Gencor Industries (NASDAQ:GENC) Trading Down 2.4% - Time to Sell?

Key Points

• Gencor shares fell 2.4% on Tuesday to $14.54 with 22,977 shares traded, about 20% below its average daily volume.
• Analysts hold a consensus Strong Buy rating with a consensus target price of $17.60, reflecting expected upside from current levels.
• The company has a market cap of $213.1 million, a PE of 13.22 and a low beta (0.52); its 50-day SMA ($15.12) sits just above the current price while the 200-day SMA ($14.09) provides nearby support, and several institutional investors recently increased positions.

Gencor Industries, Inc. (NASDAQ:GENC - Get Free Report)'s stock price traded down 2.4% during mid-day trading on Tuesday . The company traded as low as $14.54 and last traded at $14.54. 22,977 shares were traded during trading, a decline of 20% from the average session volume of 28,758 shares. The stock had previously closed at $14.89.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Loop Capital set a $17.60 target price on Gencor Industries in a report on Monday, February 9th. UBS Group reiterated a "buy" rating on shares of Gencor Industries in a report on Monday, February 9th. Finally, Freedom Capital upgraded Gencor Industries to a "strong-buy" rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and a consensus target price of $17.60.

Gencor Industries Stock Performance

The stock has a market cap of $213.13 million, a PE ratio of 13.22 and a beta of 0.52. The stock has a fifty day simple moving average of $15.12 and a two-hundred day simple moving average of $14.09.

Hedge Funds Weigh In On Gencor Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC raised its position in shares of Gencor Industries by 2.6% in the 2nd quarter. Bridgeway Capital Management LLC now owns 42,719 shares of the company's stock valued at $598,000 after purchasing an additional 1,100 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Gencor Industries by 104.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,633 shares of the company's stock valued at $39,000 after purchasing an additional 1,343 shares in the last quarter. Royal Bank of Canada raised its position in shares of Gencor Industries by 295.9% in the 4th quarter. Royal Bank of Canada now owns 1,932 shares of the company's stock valued at $25,000 after purchasing an additional 1,444 shares in the last quarter. Barclays PLC raised its position in shares of Gencor Industries by 5.0% in the 4th quarter. Barclays PLC now owns 33,587 shares of the company's stock valued at $435,000 after purchasing an additional 1,610 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Gencor Industries by 3.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 65,708 shares of the company's stock valued at $920,000 after purchasing an additional 2,100 shares in the last quarter.

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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