EVI Industries (NYSEAMERICAN:EVI) Upgraded to Buy at StockNews.com

EVI Industries (NYSEAMERICAN:EVI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

EVI Industries Stock Performance

Shares of EVI stock opened at $17.21 on Tuesday. The company has a market capitalization of $244.90 million, a price-to-earnings ratio of 34.42 and a beta of 0.35. EVI Industries has a 52 week low of $14.51 and a 52 week high of $25.50. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.44 and a quick ratio of 0.79.

Institutional Investors Weigh In On EVI Industries

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in shares of EVI Industries by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 21,499 shares of the industrial products company’s stock valued at $407,000 after buying an additional 1,422 shares during the last quarter. Captrust Financial Advisors increased its position in EVI Industries by 1.1% in the 3rd quarter. Captrust Financial Advisors now owns 138,985 shares of the industrial products company’s stock valued at $2,687,000 after acquiring an additional 1,472 shares during the period. Natixis Advisors LLC raised its stake in EVI Industries by 4.6% during the 3rd quarter. Natixis Advisors LLC now owns 33,726 shares of the industrial products company’s stock valued at $652,000 after acquiring an additional 1,485 shares in the last quarter. State Street Corp boosted its position in EVI Industries by 1.9% during the 3rd quarter. State Street Corp now owns 88,520 shares of the industrial products company’s stock worth $1,739,000 after acquiring an additional 1,685 shares during the period. Finally, Renaissance Technologies LLC grew 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 purchasing an additional 2,168 shares in the last quarter. 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.