EVI Industries (NYSEAMERICAN:EVI) Stock Price Crosses 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 $20.83 and traded as low as $14.53. EVI Industries shares last traded at $14.78, with a volume of 163,625 shares.

Analysts Set New Price Targets

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

EVI Industries Trading Down 0.3%

The stock’s fifty day simple moving average is $17.52 and its 200-day simple moving average is $20.83. The firm has a market cap of $190.22 million, a PE ratio of 32.85 and a beta of 0.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.60 and a quick ratio of 0.76.

EVI Industries (NYSEAMERICAN:EVI) last announced its quarterly earnings data on Monday, May 11th. The industrial products company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). The company had revenue of $101.13 million for the quarter, compared to analysts’ expectations of $111.30 million. EVI Industries had a net margin of 1.63% and a return on equity of 4.92%.

Institutional Trading of EVI Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in EVI Industries by 39.6% during the 4th quarter. Bank of America Corp DE now owns 4,988 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 1,416 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of EVI Industries by 27.8% in the first 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 last quarter. Rhumbline Advisers raised its stake in shares of EVI Industries by 21.4% in the first 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 last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of EVI Industries by 237.4% during the second 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. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of EVI Industries by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 104,380 shares of the industrial products company’s stock worth $3,300,000 after purchasing an additional 852 shares during the period. Institutional investors and hedge funds own 37.30% of the company’s stock.

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.