DA Davidson Reiterates “Buy” Rating for EVI Industries (NYSEAMERICAN:EVI)

EVI Industries (NYSEAMERICAN:EVI)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a report released on Wednesday,Benzinga reports. They currently have a $40.00 price target on the industrial products company’s stock. DA Davidson’s target price suggests a potential upside of 61.68% from the company’s previous close.

EVI Industries Stock Down 1.0%

Shares of EVI traded down $0.25 during midday trading on Wednesday, hitting $24.74. 147 shares of the company’s stock traded hands, compared to its average volume of 16,594. The company has a current ratio of 1.53, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $317.66 million, a price-to-earnings ratio of 50.49 and a beta of 0.07. EVI Industries has a 1 year low of $14.99 and a 1 year high of $34.82. The firm’s fifty day moving average is $28.67 and its 200-day moving average is $23.98.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of EVI Industries by 39.6% in the fourth 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 during the last quarter. Bank of New York Mellon Corp lifted its stake in EVI Industries by 23.4% during the 1st quarter. Bank of New York Mellon Corp now owns 13,217 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 2,507 shares during the period. Bailard Inc. acquired a new stake in EVI Industries during the 1st quarter valued at approximately $196,000. Royce & Associates LP increased its stake in shares of EVI Industries by 7.8% in the first quarter. Royce & Associates LP now owns 706,635 shares of the industrial products company’s stock worth $11,857,000 after acquiring an additional 50,894 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of EVI Industries by 23.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,509 shares of the industrial products company’s stock worth $311,000 after purchasing an additional 3,529 shares during the last quarter. 37.30% of the stock is owned by institutional investors and hedge funds.

EVI Industries Company Profile

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.