EVI Industries’ (EVI) Buy Rating Reaffirmed at DA Davidson

EVI Industries (NYSEAMERICAN:EVI)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a research report issued on Wednesday,Benzinga reports. They presently have a $35.00 price target on the industrial products company’s stock. DA Davidson’s price objective would suggest a potential upside of 50.54% from the company’s current price.

EVI Industries Stock Performance

EVI Industries stock traded up $0.30 during mid-day trading on Wednesday, reaching $23.25. The company’s stock had a trading volume of 1,694 shares, compared to its average volume of 14,813. The company has a current ratio of 1.41, a quick ratio of 0.74 and a debt-to-equity ratio of 0.36. EVI Industries has a twelve month low of $14.99 and a twelve month high of $34.82. The business has a 50 day moving average price of $24.39 and a 200-day moving average price of $25.58. The firm has a market cap of $335.03 million, a price-to-earnings ratio of 49.47 and a beta of 0.04.

EVI Industries (NYSEAMERICAN:EVI) last posted its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $115.29 million during the quarter, compared to analyst estimates of $108.00 million. EVI Industries had a net margin of 1.72% and a return on equity of 5.20%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EVI. Tower Research Capital LLC TRC raised its holdings in EVI Industries by 237.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,001 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 1,408 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of EVI Industries by 45.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,577 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 491 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of EVI Industries by 27.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,814 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 829 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of EVI Industries by 39.6% in the 4th quarter. Bank of America Corp DE now owns 4,988 shares of the industrial products company’s stock worth $82,000 after purchasing an additional 1,416 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in EVI Industries by 21.4% during the first quarter. Rhumbline Advisers now owns 5,336 shares of the industrial products company’s stock worth $90,000 after buying an additional 940 shares in the last quarter. 37.30% of the stock is currently owned by institutional investors.

About EVI Industries

EVI Industries, Inc, through its subsidiaries, engages in the distribution, sale, rental, and lease of commercial and industrial laundry and dry-cleaning equipment in the United States, Canada, the Caribbean, and Latin America. The company sells and/or leases commercial laundry equipment specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. It offers washroom equipment, such as washers and dryers, tunnel systems, and vended machines; finishing equipment comprising sheet feeders, flatwork ironers, automatic sheet folders, and stackers; and material handling equipment, including conveyor and rail systems.