DA Davidson Reaffirms “Buy” Rating for EVI Industries (NYSEAMERICAN:EVI)

EVI Industries (NYSEAMERICAN:EVI)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a research report issued on Wednesday,Benzinga reports. They presently have a $32.00 price objective on the industrial products company’s stock. DA Davidson’s price target indicates a potential upside of 124.25% from the stock’s previous close.

EVI Industries Stock Performance

Shares of EVI Industries stock opened at $14.27 on Wednesday. The business’s fifty day simple moving average is $16.39 and its 200 day simple moving average is $19.82. 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 has a 12 month low of $14.06 and a 12 month high of $34.82. The firm has a market capitalization of $183.65 million, a P/E ratio of 31.71 and a beta of 0.07.

EVI Industries (NYSEAMERICAN:EVI) last announced its quarterly earnings data 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). EVI Industries had a net margin of 1.63% and a return on equity of 4.92%. The business had revenue of $101.13 million during the quarter, compared to the consensus estimate of $111.30 million.

Institutional Trading of EVI Industries

Several hedge funds have recently added to or reduced their stakes in EVI. Tower Research Capital LLC TRC boosted its stake in EVI Industries by 237.4% in the second quarter. Tower Research Capital LLC TRC now owns 2,001 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 1,408 shares during the last quarter. BNP Paribas Financial Markets increased 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 purchasing an additional 491 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of EVI Industries by 27.8% during 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 last quarter. Bank of America Corp DE raised its holdings in shares of EVI Industries by 39.6% in the 4th 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 during the period. Finally, Rhumbline Advisers raised its holdings in shares of EVI Industries by 21.4% in 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. Institutional investors 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.