Gencor Industries (NASDAQ:GENC) Rating Lowered 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 note issued to investors on Wednesday morning.

Gencor Industries Stock Performance

NASDAQ:GENC opened at $19.21 on Wednesday. The stock has a 50 day moving average price of $20.20 and a 200 day moving average price of $18.62. The stock has a market cap of $281.62 million, a PE ratio of 16.70 and a beta of 0.43. Gencor Industries has a one year low of $13.50 and a one year high of $24.88.

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

Institutional Trading of Gencor Industries

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