EVI Industries (NYSEAMERICAN:EVI) Stock Passes Below 200-Day Moving Average – Here’s What Happened

EVI Industries, Inc. (NYSEAMERICAN:EVI) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.79 and traded as low as $16.75. EVI Industries shares last traded at $17.23, with a volume of 23,360 shares changing hands.

Analyst Upgrades and Downgrades

Separately, DA Davidson lowered their price target on shares of EVI Industries from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $32.00.

EVI Industries Price Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.60 and a quick ratio of 0.76. The stock has a fifty day simple moving average of $19.92 and a 200-day simple moving average of $21.79. The company has a market capitalization of $221.75 million, a price-to-earnings ratio of 38.29 and a beta of 0.05.

EVI Industries (NYSEAMERICAN:EVI) last issued 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). EVI Industries had a return on equity of 4.92% and a net margin of 1.63%.The firm had revenue of $101.13 million for the quarter, compared to analyst estimates of $111.30 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of EVI Industries by 45.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,577 shares of the industrial products company’s stock worth $50,000 after acquiring an additional 491 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in EVI Industries by 237.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,001 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 1,408 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in EVI Industries by 27.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,814 shares of the industrial products company’s stock worth $64,000 after purchasing an additional 829 shares during the period. Deutsche Bank AG boosted its position in EVI Industries by 17.5% during the fourth quarter. Deutsche Bank AG now owns 4,017 shares of the industrial products company’s stock worth $99,000 after purchasing an additional 597 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in EVI Industries by 39.6% during 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 in the last quarter. Institutional investors and hedge funds own 37.30% of the company’s stock.

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.