Short Interest in EVI Industries, Inc. (NYSEAMERICAN:EVI) Declines By 36.7%

EVI Industries, Inc. (NYSEAMERICAN:EVI) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 102,070 shares, a drop of 36.7% from the June 15th total of 161,252 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 119,584 shares, the short-interest ratio is currently 0.9 days.

EVI Industries Trading Down 0.9%

EVI traded down $0.15 on Friday, hitting $16.86. The company had a trading volume of 31,601 shares, compared to its average volume of 40,384. The business’s fifty day simple moving average is $16.65 and its 200 day simple moving average is $20.18. The company has a quick ratio of 0.76, a current ratio of 1.60 and a debt-to-equity ratio of 0.41. EVI Industries has a 12-month low of $14.06 and a 12-month high of $34.82. The company has a market cap of $217.05 million, a PE ratio of 37.48 and a beta of 0.07.

EVI Industries (NYSEAMERICAN:EVI) last posted its quarterly earnings data on Monday, May 11th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.11). The company had revenue of $101.13 million during the quarter, compared to the consensus estimate of $111.30 million. EVI Industries had a net margin of 1.63% and a return on equity of 4.92%.

Analysts Set New Price Targets

Separately, DA Davidson decreased their target price on shares of EVI Industries from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, EVI Industries currently has an average rating of “Buy” and a consensus target price of $32.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Comerica Bank grew its stake in EVI Industries by 66.1% in the 4th quarter. Comerica Bank now owns 150,710 shares of the industrial products company’s stock worth $3,713,000 after acquiring an additional 59,965 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of EVI Industries by 8.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 872,555 shares of the industrial products company’s stock valued at $21,500,000 after acquiring an additional 65,885 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in EVI Industries by 30,492.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,212,392 shares of the industrial products company’s stock worth $29,873,000 after purchasing an additional 1,208,429 shares in the last quarter. Royce & Associates LP raised its stake in shares of EVI Industries by 4.5% during the 4th quarter. Royce & Associates LP now owns 844,417 shares of the industrial products company’s stock worth $20,806,000 after acquiring an additional 36,272 shares in the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of EVI Industries by 218.8% during the fourth quarter. North Star Investment Management Corp. now owns 51,000 shares of the industrial products company’s stock worth $1,257,000 after purchasing an additional 35,000 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.