EVI Industries (NYSEAMERICAN:EVI) Shares Cross Below 200-Day Moving Average – Time to Sell?

Shares of EVI Industries, Inc. (NYSEAMERICAN:EVI) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.09 and traded as low as $15.51. EVI Industries shares last traded at $15.91, with a volume of 26,338 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their price objective on shares of EVI Industries from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, EVI Industries has an average rating of “Buy” and a consensus price target of $32.00.

EVI Industries Stock Performance

The stock has a market cap of $204.76 million, a P/E ratio of 35.36 and a beta of 0.03. The company has a current ratio of 1.60, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $18.35 and a 200 day simple moving average of $21.09.

EVI Industries (NYSEAMERICAN:EVI) last posted its quarterly earnings data on Monday, May 11th. The industrial products company reported $0.05 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $111.30 million.

Institutional Investors Weigh In On EVI Industries

Institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its position in shares of EVI Industries by 30,492.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,212,392 shares of the industrial products company’s stock worth $29,873,000 after purchasing an additional 1,208,429 shares during the period. Conestoga Capital Advisors LLC grew its position 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 valued at $21,500,000 after purchasing an additional 65,885 shares during the period. Royce & Associates LP increased its position in shares of EVI Industries by 4.5% during the fourth quarter. Royce & Associates LP now owns 844,417 shares of the industrial products company’s stock worth $20,806,000 after acquiring an additional 36,272 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of EVI Industries by 5.0% in the fourth quarter. King Luther Capital Management Corp now owns 230,500 shares of the industrial products company’s stock worth $5,680,000 after purchasing an additional 11,057 shares during the last quarter. Finally, Raymond James Financial Inc. raised its position in EVI Industries by 5.5% in the 3rd quarter. Raymond James Financial Inc. now owns 190,512 shares of the industrial products company’s stock valued at $6,022,000 after buying an additional 9,883 shares during the last quarter. 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. 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.