EVI Industries (NYSEAMERICAN:EVI) Shares Pass Below 200 Day Moving Average – Here’s What Happened

EVI Industries, Inc. (NYSEAMERICAN:EVI) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.12 and traded as low as $18.38. EVI Industries shares last traded at $18.69, with a volume of 43,786 shares traded.

Analyst Upgrades and Downgrades

Separately, DA Davidson reaffirmed a “buy” rating and set a $35.00 price target on shares of EVI Industries in a research note on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, According to MarketBeat, EVI Industries presently has a consensus rating of “Buy” and an average target price of $35.00.

EVI Industries Trading Down 4.5%

The company has a quick ratio of 0.77, a current ratio of 1.58 and a debt-to-equity ratio of 0.40. The company has a market cap of $240.35 million, a price-to-earnings ratio of 39.77 and a beta of 0.08. The firm has a 50 day moving average price of $23.29 and a two-hundred day moving average price of $25.12.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EVI. Northwestern Mutual Wealth Management Co. lifted its holdings 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 valued at $29,873,000 after buying an additional 1,208,429 shares during the period. 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 acquiring an additional 73,019 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in EVI Industries by 8.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 872,555 shares of the industrial products company’s stock worth $21,500,000 after acquiring an additional 65,885 shares during the period. Comerica Bank grew its holdings in EVI Industries by 66.1% during the 4th quarter. Comerica Bank now owns 150,710 shares of the industrial products company’s stock worth $3,713,000 after acquiring an additional 59,965 shares during the period. Finally, North Star Investment Management Corp. raised its position in shares of EVI Industries by 218.8% in the 4th quarter. North Star Investment Management Corp. now owns 51,000 shares of the industrial products company’s stock worth $1,257,000 after acquiring an additional 35,000 shares in 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.