Gencor Industries (NASDAQ:GENC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Gencor Industries (NASDAQ:GENC) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

Gencor Industries Trading Up 7.3 %

NASDAQ GENC opened at $20.31 on Tuesday. The firm’s 50 day simple moving average is $20.01 and its 200 day simple moving average is $18.40. The firm has a market capitalization of $297.74 million, a price-to-earnings ratio of 17.66 and a beta of 0.43. Gencor Industries has a 1 year low of $13.50 and a 1 year high of $24.88.

Gencor Industries (NASDAQ:GENC) last released its earnings results on Friday, August 9th. The company reported $0.17 earnings per share for the quarter. Gencor Industries had a return on equity of 9.14% and a net margin of 14.61%. The firm had revenue of $25.55 million during the quarter.

Institutional Investors Weigh In On Gencor Industries

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers increased its position in 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 in the last quarter. Pullen Investment Management LLC grew its stake in shares of Gencor Industries by 1.7% during the second quarter. Pullen Investment Management LLC now owns 58,129 shares of the company’s stock worth $1,124,000 after buying an additional 997 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Gencor Industries by 52.7% during the first quarter. BNP Paribas Financial Markets now owns 5,115 shares of the company’s stock worth $85,000 after buying an additional 1,765 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Gencor Industries by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 73,012 shares of the company’s stock valued at $1,412,000 after acquiring an additional 3,125 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Gencor Industries by 7.1% during the 4th quarter. First Eagle Investment Management LLC now owns 64,461 shares of the company’s stock valued at $1,040,000 after acquiring an additional 4,263 shares in the last quarter.

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.