EVI Industries (NYSEAMERICAN:EVI) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

EVI Industries, Inc. (NYSEAMERICAN:EVI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $19.06. EVI Industries shares last traded at $18.88, with a volume of 16,184 shares.

Analyst Ratings Changes

EVI has been the topic of a number of research analyst reports. DA Davidson began coverage on shares of EVI Industries in a research note on Friday, June 6th. They issued a “buy” rating and a $28.00 target price on the stock. Wall Street Zen upgraded shares of EVI Industries from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th.

EVI Industries Stock Performance

The firm has a market cap of $240.91 million, a PE ratio of 39.33 and a beta of 0.40. The business’s 50 day moving average is $17.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.87 and a current ratio of 1.58.

Institutional Investors Weigh In On EVI Industries

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in shares of EVI Industries by 21.4% during the 1st quarter. Rhumbline Advisers now owns 5,336 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 940 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in EVI Industries by 27.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,814 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 829 shares during the period. Corebridge Financial Inc. increased its stake in EVI Industries by 24.9% during the first quarter. Corebridge Financial Inc. now owns 3,206 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 639 shares during the period. Comerica Bank raised its holdings in EVI Industries by 11.6% in the 1st quarter. Comerica Bank now owns 90,745 shares of the industrial products company’s stock valued at $1,523,000 after acquiring an additional 9,420 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of EVI Industries in the 1st quarter worth approximately $25,000. 37.30% of the stock is 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.