EVI Industries (NYSEAMERICAN:EVI) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of EVI Industries, Inc. (NYSEAMERICAN:EVI) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $21.44 and traded as low as $16.90. EVI Industries shares last traded at $17.23, with a volume of 61,090 shares.

Analysts Set New Price Targets

Separately, DA Davidson decreased their price target on 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 investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $32.00.

EVI Industries Price Performance

The business has a 50-day moving average price of $19.54 and a 200 day moving average price of $21.44. The company has a market cap of $221.75 million, a price-to-earnings ratio of 38.29 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.

EVI Industries (NYSEAMERICAN:EVI) last released its quarterly earnings results on Monday, May 11th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). The firm had revenue of $101.13 million for the quarter, compared to analyst estimates 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

Several hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank boosted its position in EVI Industries by 66.1% during the fourth quarter. Comerica Bank now owns 150,710 shares of the industrial products company’s stock valued at $3,713,000 after purchasing an additional 59,965 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in EVI Industries by 8.2% during the fourth 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 last quarter. Royce & Associates LP boosted its position in EVI Industries by 9.9% during the third quarter. Royce & Associates LP now owns 808,145 shares of the industrial products company’s stock valued at $25,545,000 after purchasing an additional 73,019 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in EVI Industries by 30,492.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,212,392 shares of the industrial products company’s stock valued at $29,873,000 after purchasing an additional 1,208,429 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its position in EVI Industries by 218.8% during the fourth quarter. North Star Investment Management Corp. now owns 51,000 shares of the industrial products company’s stock valued at $1,257,000 after purchasing an additional 35,000 shares during the last quarter. Institutional investors and hedge funds own 37.30% of the company’s stock.

About EVI Industries

EVI Industries, Inc, 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.