Gencor Industries (NASDAQ:GENC) Earns Hold Rating from Freedom Broker

Gencor Industries (NASDAQ:GENC)‘s stock had its “hold” rating reiterated by equities researchers at Freedom Broker in a research note issued to investors on Thursday, Benzinga reports. They currently have a $21.00 target price on the stock, up from their previous target price of $19.00. Freedom Broker’s price objective would indicate a potential upside of 12.00% from the stock’s current price.

Gencor Industries Trading Down 1.3%

GENC opened at $18.75 on Thursday. The stock has a fifty day simple moving average of $16.70 and a two-hundred day simple moving average of $15.54. The company has a market cap of $274.84 million, a price-to-earnings ratio of 17.05 and a beta of 0.54. Gencor Industries has a 12-month low of $12.22 and a 12-month high of $20.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased 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 worth $25,000 after buying an additional 1,444 shares in the last quarter. California State Teachers Retirement System lifted its stake in Gencor Industries by 284.3% during the 2nd quarter. California State Teachers Retirement System now owns 2,148 shares of the company’s stock valued at $32,000 after acquiring an additional 1,589 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Gencor Industries by 104.1% during the 3rd 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 last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Gencor Industries during the 4th quarter valued at about $55,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Gencor Industries in the second quarter worth approximately $75,000.

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.