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

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

EVI Industries Price Performance

EVI traded down $0.13 during trading hours on Friday, reaching $19.12. 38,858 shares of the company’s stock traded hands, compared to its average volume of 17,274. The stock has a market cap of $242.44 million, a P/E ratio of 51.68 and a beta of 0.34. The company has a quick ratio of 0.80, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. EVI Industries has a 52-week low of $14.51 and a 52-week high of $28.65.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. increased its holdings in shares of EVI Industries by 35.6% in the 1st quarter. American International Group Inc. now owns 3,195 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 838 shares during the period. Bank of New York Mellon Corp grew its stake in 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 valued at $407,000 after purchasing an additional 1,422 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in EVI Industries by 42.8% in the first quarter. BNP Paribas Financial Markets now owns 4,850 shares of the industrial products company’s stock worth $121,000 after purchasing an additional 1,454 shares in the last quarter. Gladius Capital Management LP bought a new position in EVI Industries in the second quarter worth about $29,000. Finally, Renaissance Technologies LLC lifted its position in shares of EVI Industries by 18.7% during the second quarter. Renaissance Technologies LLC now owns 13,765 shares of the industrial products company’s stock valued at $260,000 after buying an additional 2,168 shares during the last quarter. Hedge funds and other 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.