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

DA Davidson reissued their buy rating on shares of EVI Industries (NYSEAMERICAN:EVI) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $32.00 target price on the industrial products company’s stock.

EVI Industries Price Performance

Shares of EVI opened at $13.95 on Wednesday. The stock has a market cap of $179.54 million, a P/E ratio of 31.00 and a beta of 0.07. EVI Industries has a 1 year low of $13.84 and a 1 year high of $34.82. The stock’s 50-day moving average price is $16.33 and its two-hundred day moving average price is $19.78. The company has a current ratio of 1.60, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41.

EVI Industries (NYSEAMERICAN:EVI) last announced its quarterly earnings results 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). EVI Industries had a net margin of 1.63% and a return on equity of 4.92%. The company had revenue of $101.13 million during the quarter, compared to the consensus estimate of $111.30 million.

Hedge Funds Weigh In On EVI Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Comerica Bank raised its stake in 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 buying an additional 59,965 shares during the period. Fifth Third Bancorp acquired a new position in EVI Industries in the first quarter valued at about $3,102,000. Conestoga Capital Advisors LLC grew its stake in EVI Industries by 8.2% in the fourth 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. grew its stake 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 valued at $29,873,000 after acquiring an additional 1,208,429 shares during the period. Finally, North Star Investment Management Corp. increased its holdings in shares of EVI Industries by 218.8% in 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 acquiring an additional 35,000 shares in the last quarter. 37.30% of the stock is owned by institutional investors.

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. 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.