EVI Industries (NYSEAMERICAN:EVI) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of EVI Industries (NYSEAMERICAN:EVI) from a buy rating to a hold rating in a research report report published on Monday.

EVI Industries Stock Performance

EVI stock opened at $21.76 on Monday. 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 has a 1 year low of $14.51 and a 1 year high of $27.01. The firm has a market capitalization of $277.00 million, a PE ratio of 57.26 and a beta of 0.34.

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

EVI Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Thursday, September 26th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.24 dividend on an annualized basis and a yield of 5.70%.

Institutional Trading of EVI Industries

Hedge funds have recently bought and sold shares of the stock. Conestoga Capital Advisors LLC increased its stake in shares of EVI Industries by 1.3% in the third quarter. Conestoga Capital Advisors LLC now owns 775,266 shares of the industrial products company’s stock worth $14,986,000 after purchasing an additional 9,615 shares in the last quarter. Swedbank AB purchased a new position in shares of EVI Industries in the first quarter valued at about $9,338,000. Vanguard Group Inc. boosted its stake in shares of EVI Industries by 9.0% in the first quarter. Vanguard Group Inc. now owns 290,501 shares of the industrial products company’s stock worth $7,233,000 after acquiring an additional 23,880 shares during the period. Raymond James & Associates grew its position in shares of EVI Industries by 2.7% during the second quarter. Raymond James & Associates now owns 188,083 shares of the industrial products company’s stock worth $3,559,000 after purchasing an additional 4,918 shares in the last quarter. Finally, Comerica Bank raised its stake in EVI Industries by 53.8% during the 1st quarter. Comerica Bank now owns 73,095 shares of the industrial products company’s stock valued at $1,820,000 after purchasing an additional 25,570 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.