StockNews.com Initiates Coverage on Gencor Industries (NASDAQ:GENC)

Stock analysts at StockNews.com started coverage on shares of Gencor Industries (NASDAQ:GENC – Get Rating) in a report issued on Tuesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Gencor Industries Stock Up 0.7 %

Shares of Gencor Industries stock opened at $10.87 on Tuesday. The stock has a market capitalization of $159.33 million, a P/E ratio of -362.33 and a beta of 0.55. The company has a 50-day simple moving average of $10.56 and a 200 day simple moving average of $9.98. Gencor Industries has a 12-month low of $8.38 and a 12-month high of $11.55.

Gencor Industries (NASDAQ:GENC – Get Rating) last issued its quarterly earnings data on Friday, December 16th. The industrial products company reported $0.03 EPS for the quarter. Gencor Industries had a negative net margin of 0.36% and a negative return on equity of 0.22%. The firm had revenue of $23.07 million for the quarter.

Institutional Investors Weigh In On Gencor Industries

A number of hedge funds have recently added to or reduced their stakes in GENC. Marquette Asset Management LLC bought a new stake in Gencor Industries during the 3rd quarter worth about $134,000. State Street Corp boosted its stake in shares of Gencor Industries by 17.8% in the 1st quarter. State Street Corp now owns 17,627 shares of the industrial products company’s stock valued at $181,000 after purchasing an additional 2,659 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Gencor Industries by 6.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,127 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 1,252 shares during the last quarter. Weil Company Inc. boosted its stake in shares of Gencor Industries by 30.5% in the 2nd quarter. Weil Company Inc. now owns 21,380 shares of the industrial products company’s stock valued at $217,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Gencor Industries by 26.9% in the 1st quarter. Gabelli Funds LLC now owns 33,000 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors own 40.37% of the company’s stock.

Gencor Industries Company Profile

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Gencor Industries, Inc engages in the designing, manufacturing and sales of heavy machinery and related equipment used in the production of highway construction materials, synthetic fuels and environmental control equipment. Its products include asphalt plants, combustion systems and industrial incinerators, fluid heat transfer systems and asphalt pavers.