Freedom Broker downgraded shares of Gencor Industries (NASDAQ:GENC – Free Report) from a buy rating to a hold rating in a report published on Thursday, Marketbeat reports. The firm currently has $21.00 price target on the stock, up from their previous price target of $19.00.
Gencor Industries Stock Performance
GENC opened at $17.93 on Thursday. Gencor Industries has a twelve month low of $12.22 and a twelve month high of $20.19. The business has a 50 day moving average price of $16.82 and a 200 day moving average price of $15.57. The firm has a market cap of $262.82 million, a P/E ratio of 16.30 and a beta of 0.54.
Hedge Funds Weigh In On Gencor Industries
Several large investors have recently made changes to their positions in GENC. Royal Bank of Canada grew its holdings in 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 buying an additional 1,444 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Gencor Industries by 284.3% during the second quarter. California State Teachers Retirement System now owns 2,148 shares of the company’s stock worth $32,000 after buying an additional 1,589 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Gencor Industries by 104.1% in the third quarter. BNP Paribas Financial Markets now owns 2,633 shares of the company’s stock valued at $39,000 after acquiring an additional 1,343 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Gencor Industries in the fourth quarter valued at approximately $55,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Gencor Industries in the second quarter worth $75,000.
Gencor Industries Company Profile
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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