EVI Industries (NYSEAMERICAN:EVI) Stock Passes Below 200-Day Moving Average – Here’s What Happened

EVI Industries, Inc. (NYSEAMERICAN:EVI)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $21.79 and traded as low as $16.75. EVI Industries shares last traded at $17.23, with a volume of 23,360 shares trading hands.

Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their price target on shares of 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, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $32.00.

EVI Industries Stock Performance

The stock has a market cap of $221.75 million, a price-to-earnings ratio of 38.29 and a beta of 0.05. The firm’s 50-day moving average is $19.92 and its two-hundred day moving average is $21.79. 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 posted its quarterly earnings data on Monday, May 11th. The industrial products company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.11). EVI Industries had a return on equity of 4.92% and a net margin of 1.63%.The firm had revenue of $101.13 million during the quarter, compared to analyst estimates of $111.30 million.

Institutional Trading of EVI Industries

Large investors have recently made changes to their positions in the company. Comerica Bank raised its stake in EVI Industries by 66.1% in the 4th 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 stake 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 purchasing an additional 65,885 shares during the last quarter. Royce & Associates LP grew its holdings in shares of EVI Industries by 9.9% during the third quarter. Royce & Associates LP now owns 808,145 shares of the industrial products company’s stock worth $25,545,000 after buying an additional 73,019 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 worth $29,873,000 after buying an additional 1,208,429 shares in the last quarter. Finally, North Star Investment Management Corp. raised its position in shares of EVI Industries by 218.8% in 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 buying an additional 35,000 shares during the last quarter. 37.30% of the stock is currently owned by hedge funds and other institutional investors.

EVI Industries Company Profile

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.