Gencor Industries (NASDAQ:GENC) Cut to Hold at StockNews.com

StockNews.com lowered shares of Gencor Industries (NASDAQ:GENC) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Gencor Industries Price Performance

NASDAQ:GENC opened at $18.56 on Wednesday. The firm has a market cap of $272.09 million, a price-to-earnings ratio of 16.14 and a beta of 0.40. The firm’s fifty day moving average price is $20.20 and its 200 day moving average price is $18.65. Gencor Industries has a 1-year low of $13.50 and a 1-year high of $24.88.

Gencor Industries (NASDAQ:GENC) last issued its earnings results on Friday, August 9th. The company reported $0.17 earnings per share for the quarter. Gencor Industries had a net margin of 14.33% and a return on equity of 8.60%. The business had revenue of $25.55 million for the quarter.

Hedge Funds Weigh In On Gencor Industries

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in Gencor Industries by 52.7% during the first quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock worth $85,000 after acquiring an additional 1,765 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Gencor Industries during the 2nd quarter worth $163,000. Aristides Capital LLC purchased a new position in shares of Gencor Industries in the 1st quarter valued at about $188,000. Rhumbline Advisers lifted its stake in shares of Gencor Industries by 4.1% in the second quarter. Rhumbline Advisers now owns 11,767 shares of the company’s stock valued at $228,000 after purchasing an additional 465 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Gencor Industries during the second quarter worth about $377,000.

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.