Gencor Industries (NASDAQ:GENC) Stock Price Down 0.4% – Time to Sell?

Gencor Industries, Inc. (NASDAQ:GENC)’s stock price dropped 0.4% during mid-day trading on Friday. The stock traded as low as $17.25 and last traded at $17.38. Approximately 39,924 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 39,709 shares. The stock had previously closed at $17.45.

Analysts Set New Price Targets

Separately, Freedom Broker downgraded shares of Gencor Industries from a “buy” rating to a “hold” rating and lifted their price target for the company from $19.00 to $21.00 in a research report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $19.30.

Gencor Industries Stock Performance

The company has a market cap of $254.76 million, a PE ratio of 15.80 and a beta of 0.54. The firm has a fifty day simple moving average of $18.04 and a 200 day simple moving average of $16.09.

Institutional Trading of Gencor Industries

Large investors have recently added to or reduced their stakes in the stock. Martin & Co. Inc. TN acquired a new position in Gencor Industries in the second quarter valued at approximately $4,963,000. De Lisle Partners LLP bought a new stake in shares of Gencor Industries during the second quarter valued at approximately $2,265,000. North Star Investment Management Corp. grew its holdings in Gencor Industries by 631.2% in the 1st quarter. North Star Investment Management Corp. now owns 117,000 shares of the company’s stock worth $1,755,000 after buying an additional 101,000 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Gencor Industries by 17.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 302,200 shares of the company’s stock valued at $4,533,000 after acquiring an additional 44,000 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Gencor Industries by 11.3% during the 1st quarter. Renaissance Technologies LLC now owns 383,008 shares of the company’s stock valued at $5,745,000 after acquiring an additional 39,034 shares in the last quarter.

About Gencor Industries

Gencor Industries, Inc (NASDAQ: GENC) designs and manufactures heavy machinery used primarily in the highway construction and environmental control industries. The company’s equipment is used in the production and processing of asphalt and other materials for infrastructure projects.

Its product portfolio includes asphalt batch and drum-mix plants, combustion systems, thermal fluid heat exchangers, hot oil heaters, material handling equipment, and systems designed for waste-heat recovery and emissions control.