EVI Industries’ (EVI) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reiterated their buy rating on shares of EVI Industries (NYSEAMERICAN:EVI) in a research note released on Wednesday,Benzinga reports. DA Davidson currently has a $35.00 price objective on the industrial products company’s stock.

EVI Industries Stock Down 3.2%

NYSEAMERICAN EVI opened at $22.22 on Wednesday. The stock has a 50 day moving average price of $24.40 and a 200-day moving average price of $25.55. EVI Industries has a one year low of $14.99 and a one year high of $34.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.74 and a current ratio of 1.58. The company has a market capitalization of $285.75 million, a P/E ratio of 47.28 and a beta of 0.04.

EVI Industries (NYSEAMERICAN:EVI) last released its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). EVI Industries had a net margin of 1.72% and a return on equity of 5.18%. The business had revenue of $115.29 million for the quarter, compared to analysts’ expectations of $108.00 million.

Institutional Investors Weigh In On EVI Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in EVI Industries by 30,492.8% in the fourth 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 last quarter. 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 acquiring an additional 65,885 shares during the last quarter. Royce & Associates LP increased its stake in EVI Industries by 4.5% in the fourth quarter. Royce & Associates LP now owns 844,417 shares of the industrial products company’s stock worth $20,806,000 after purchasing an additional 36,272 shares during the period. King Luther Capital Management Corp boosted its stake in shares of EVI Industries by 5.0% during the fourth quarter. King Luther Capital Management Corp now owns 230,500 shares of the industrial products company’s stock valued at $5,680,000 after purchasing an additional 11,057 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of EVI Industries by 5.5% during the third quarter. Raymond James Financial Inc. now owns 190,512 shares of the industrial products company’s stock valued at $6,022,000 after purchasing an additional 9,883 shares during the period. Hedge funds and other 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.