Gencor Industries (NASDAQ:GENC) Stock Price Down 0.4% - What's Next?

Key Points

• Gencor Industries shares fell 0.4% to $17.38 on Friday, with trading volume roughly in line with its average. The company has a $254.8 million market capitalization and a P/E ratio of 15.8.
• Freedom Broker downgraded the stock from “Buy” to “Hold” but raised its price target to $21.00. Overall analyst sentiment remains “Buy,” with a consensus target price of $19.30.
• Several institutional investors increased or initiated positions in Gencor, including Deutsche Bank, Russell Investments, Arrowstreet Capital, Bank of America and Connor Clark & Lunn. Gencor manufactures machinery for highway construction and environmental-control applications.

Gencor Industries, Inc. (NASDAQ:GENC - Get Free Report) dropped 0.4% on Friday. The stock traded as low as $17.25 and last traded at $17.38. 39,924 shares changed hands during trading, an increase of 1% from the average daily volume of 39,709 shares. The stock had previously closed at $17.45.

Wall Street Analyst Weigh In

Separately, Freedom Broker lowered Gencor Industries from a "buy" rating to a "hold" rating and increased their price target for the company from $19.00 to $21.00 in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Gencor Industries presently has an average rating of "Buy" and a consensus target price of $19.30.

Gencor Industries Price Performance

The firm has a market capitalization of $254.76 million, a PE ratio of 15.80 and a beta of 0.54. The stock's 50-day moving average price is $18.04 and its 200 day moving average price is $16.09.

Institutional Investors Weigh In On Gencor Industries

Hedge funds have recently made changes to their positions in the company. Deutsche Bank AG raised its position in shares of Gencor Industries by 10.7% in the second quarter. Deutsche Bank AG now owns 12,522 shares of the company's stock worth $187,000 after acquiring an additional 1,211 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Gencor Industries by 403.2% in the second quarter. Russell Investments Group Ltd. now owns 5,465 shares of the company's stock valued at $82,000 after acquiring an additional 4,379 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Gencor Industries by 8.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 91,998 shares of the company's stock valued at $1,380,000 after acquiring an additional 7,338 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Gencor Industries in the second quarter worth approximately $179,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Gencor Industries in the second quarter worth approximately $326,000.

Gencor Industries Company Profile

Gencor Industries, Inc NASDAQ: GENC designs and manufactures heavy machinery used primarily in the highway construction and environmental control industries. The company's equipment is used in the production and processing of asphalt and other materials for infrastructure projects.

Its product portfolio includes asphalt batch and drum-mix plants, combustion systems, thermal fluid heat exchangers, hot oil heaters, material handling equipment, and systems designed for waste-heat recovery and emissions control.

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