Gencor Industries (NASDAQ:GENC) Shares Down 2.4% – Time to Sell?

Gencor Industries, Inc. (NASDAQ:GENC)’s share price was down 2.4% during mid-day trading on Tuesday . The company traded as low as $14.54 and last traded at $14.54. Approximately 22,977 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 28,758 shares. The stock had previously closed at $14.89.

Analysts Set New Price Targets

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

Gencor Industries Price Performance

The company has a market cap of $218.84 million, a PE ratio of 13.57 and a beta of 0.52. The company has a fifty day moving average price of $15.10 and a 200 day moving average price of $14.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP raised its position in Gencor Industries by 1.1% during the fourth quarter. Royce & Associates LP now owns 927,000 shares of the company’s stock valued at $12,014,000 after purchasing an additional 9,800 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Gencor Industries by 1.1% during the third quarter. Vanguard Group Inc. now owns 564,506 shares of the company’s stock valued at $8,259,000 after purchasing an additional 6,108 shares during the period. Martin & Co. Inc. TN boosted its stake in shares of Gencor Industries by 2.8% during the fourth quarter. Martin & Co. Inc. TN now owns 328,297 shares of the company’s stock valued at $4,255,000 after purchasing an additional 9,027 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Gencor Industries by 22.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 258,200 shares of the company’s stock valued at $3,346,000 after purchasing an additional 47,600 shares during the period. Finally, Teton Advisors LLC purchased a new stake in shares of Gencor Industries during the third quarter valued at approximately $3,701,000.

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.