Gencor Industries’ (GENC) “Hold” Rating Reaffirmed at Freedom Broker

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

Gencor Industries Price Performance

NASDAQ GENC opened at $18.75 on Thursday. Gencor Industries has a 1 year low of $12.22 and a 1 year high of $20.19. The stock has a market capitalization of $274.84 million, a PE ratio of 17.05 and a beta of 0.54. The business’s 50-day moving average is $16.70 and its 200 day moving average is $15.54.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GENC. California State Teachers Retirement System lifted its position in shares of Gencor Industries by 284.3% in the 2nd quarter. California State Teachers Retirement System now owns 2,148 shares of the company’s stock worth $32,000 after purchasing an additional 1,589 shares during the period. Bank of America Corp DE purchased a new position in shares of Gencor Industries during the second quarter valued at about $179,000. Hsbc Holdings PLC bought a new position in Gencor Industries in the second quarter worth about $451,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Gencor Industries in the second quarter worth about $326,000. Finally, Martin & Co. Inc. TN purchased a new stake in Gencor Industries in the second quarter worth about $4,963,000.

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.