Gencor Industries (NASDAQ:GENC) Stock Price Up 0.3% – Time to Buy?

Gencor Industries, Inc. (NASDAQ:GENC) traded up 0.3% during trading on Monday . The company traded as high as $14.85 and last traded at $14.66. 23,281 shares traded hands during trading, a decline of 23% from the average session volume of 30,288 shares. The stock had previously closed at $14.62.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GENC shares. UBS Group restated a “buy” rating on shares of Gencor Industries in a research note on Monday, February 9th. Freedom Capital upgraded shares of Gencor Industries to a “strong-buy” rating in a research note on Friday, February 6th. Finally, Loop Capital set a $17.60 price target on Gencor Industries in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Strong Buy” and an average price target of $17.60.

Gencor Industries Stock Up 0.3%

The firm’s 50-day simple moving average is $14.82 and its 200-day simple moving average is $14.05. The firm has a market capitalization of $214.89 million, a PE ratio of 13.33 and a beta of 0.49.

Institutional Investors Weigh In On Gencor Industries

A number of large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Gencor Industries by 295.9% during the fourth quarter. Royal Bank of Canada now owns 1,932 shares of the company’s stock worth $25,000 after purchasing an additional 1,444 shares during the period. BNP Paribas Financial Markets grew its position in shares of Gencor Industries by 104.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,633 shares of the company’s stock worth $39,000 after buying an additional 1,343 shares during the period. eCIO Inc. bought a new position in shares of Gencor Industries during the fourth quarter valued at approximately $46,000. Los Angeles Capital Management LLC bought a new position in Gencor Industries during the 4th quarter valued at approximately $55,000. Finally, Raymond James Financial Inc. bought a new stake in Gencor Industries during the 2nd quarter valued at about $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.