EVI Industries (NYSEAMERICAN:EVI) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of EVI Industries (NYSEAMERICAN:EVI) from a hold rating to a buy rating in a research report released on Friday.

EVI Industries Trading Up 3.3 %

Shares of EVI opened at $19.24 on Friday. EVI Industries has a twelve month low of $14.51 and a twelve month high of $28.65. The stock has a market cap of $243.96 million, a PE ratio of 50.63 and a beta of 0.34. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09.

EVI Industries (NYSEAMERICAN:EVI) last posted its earnings results on Thursday, September 12th. The industrial products company reported $0.14 earnings per share for the quarter. EVI Industries had a net margin of 1.60% and a return on equity of 4.22%. The business had revenue of $90.15 million for the quarter.

EVI Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Thursday, September 26th were paid a $0.31 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.24 dividend on an annualized basis and a yield of 6.44%.

Hedge Funds Weigh In On EVI Industries

Institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of EVI Industries during the second quarter valued at about $158,000. Renaissance Technologies LLC increased its stake in shares of EVI Industries by 18.7% in the second quarter. Renaissance Technologies LLC now owns 13,765 shares of the industrial products company’s stock worth $260,000 after buying an additional 2,168 shares during the period. Conestoga Capital Advisors LLC grew its holdings in EVI Industries by 18.3% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 765,651 shares of the industrial products company’s stock worth $14,486,000 after acquiring an additional 118,490 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of EVI Industries by 7.1% in the second quarter. Bank of New York Mellon Corp now owns 21,499 shares of the industrial products company’s stock worth $407,000 after purchasing an additional 1,422 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in EVI Industries by 2.7% during the 2nd quarter. Raymond James & Associates now owns 188,083 shares of the industrial products company’s stock valued at $3,559,000 after purchasing an additional 4,918 shares during the period. 37.30% of the stock is currently owned by institutional investors.

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.