EVI Industries (NYSEAMERICAN:EVI) Stock Breaks Above 200 Day Moving Average – Here’s What Happened

EVI Industries, Inc. (NYSEAMERICAN:EVI) shares crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $17.35 and traded as high as $20.54. EVI Industries shares last traded at $20.33, with a volume of 51,821 shares trading hands.

Analyst Upgrades and Downgrades

Separately, DA Davidson restated a “buy” rating and set a $32.00 price objective on shares of EVI Industries in a research note on Friday, September 18th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, EVI Industries presently has a consensus rating of “Buy” and an average price target of $32.00.

EVI Industries Stock Performance

The stock has a market cap of $261.85 million, a P/E ratio of 42.35 and a beta of 0.09. The company has a fifty day moving average of $15.41 and a 200 day moving average of $17.35. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.64 and a quick ratio of 0.87.

EVI Industries (NYSEAMERICAN:EVI) last released its earnings results on Tuesday, September 8th. The industrial products company reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The firm had revenue of $121.87 million during the quarter, compared to the consensus estimate of $117.10 million. EVI Industries had a return on equity of 5.31% and a net margin of 1.73%.

Institutional Trading of EVI Industries

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in EVI Industries during the second quarter worth about $5,217,000. Fifth Third Bancorp bought a new stake in shares of EVI Industries in the 1st quarter worth approximately $3,102,000. Dimensional Fund Advisors LP raised its holdings in shares of EVI Industries by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 111,750 shares of the industrial products company’s stock worth $2,300,000 after purchasing an additional 4,187 shares in the last quarter. Sei Investments Co. lifted its stake in EVI Industries by 59.3% during the first quarter. Sei Investments Co. now owns 66,096 shares of the industrial products company’s stock valued at $1,360,000 after purchasing an additional 24,613 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its stake in EVI Industries by 21.6% during the first quarter. North Star Investment Management Corp. now owns 62,000 shares of the industrial products company’s stock valued at $1,276,000 after purchasing an additional 11,000 shares during the last quarter. Institutional investors and hedge funds own 37.30% of the company’s stock.

About EVI Industries

EVI Industries, Inc is a distributor of commercial and industrial equipment and related services. The company primarily serves the textile-care industry, supplying commercial laundry and dry-cleaning equipment such as washers, dryers, finishing systems, ironers, folders and garment-care equipment.

In addition to equipment sales, EVI provides installation, maintenance, repair, technical support, replacement parts and operating supplies. Its customers include businesses and institutions in the hospitality, health care, correctional, retail laundry, dry-cleaning and other textile-service markets.

Headquartered in Miami, Florida, EVI serves customers through a network of operating companies and distribution locations in the United States and selected international markets.