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

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

Gencor Industries Trading Up 1.3 %

NASDAQ GENC opened at $20.52 on Tuesday. Gencor Industries has a 52 week low of $13.67 and a 52 week high of $24.88. The company has a 50 day moving average price of $20.10 and a 200 day moving average price of $19.72.

Gencor Industries (NASDAQ:GENC) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.17 earnings per share (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%.

Hedge Funds Weigh In On Gencor Industries

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