EVI Industries’ (EVI) “Buy” Rating Reiterated at DA Davidson

EVI Industries (NYSEAMERICAN:EVI)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a report released on Wednesday,Benzinga reports. They currently have a $32.00 price objective on the industrial products company’s stock. DA Davidson’s price target suggests a potential upside of 113.55% from the stock’s current price.

EVI Industries Price Performance

Shares of NYSEAMERICAN EVI traded down $0.01 during trading on Wednesday, hitting $14.98. The company had a trading volume of 39,793 shares, compared to its average volume of 41,205. The company has a market cap of $192.86 million, a P/E ratio of 33.21 and a beta of 0.07. EVI Industries has a 52 week low of $14.06 and a 52 week high of $34.82. The business’s 50-day moving average is $16.48 and its 200 day moving average is $19.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.76 and a current ratio of 1.60.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EVI. Northwestern Mutual Wealth Management Co. grew its position in EVI Industries by 30,492.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,212,392 shares of the industrial products company’s stock valued at $29,873,000 after purchasing an additional 1,208,429 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of EVI Industries in the first quarter valued at approximately $3,102,000. Conestoga Capital Advisors LLC raised its holdings in 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 worth $21,500,000 after acquiring an additional 65,885 shares during the period. Comerica Bank lifted its position in shares of EVI Industries by 66.1% during the 4th quarter. Comerica Bank now owns 150,710 shares of the industrial products company’s stock worth $3,713,000 after purchasing an additional 59,965 shares during the last quarter. Finally, Aristides Capital LLC acquired a new position in shares of EVI Industries during the first quarter worth approximately $862,000. Hedge funds and other institutional investors own 37.30% of the company’s stock.

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.