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

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

EVI Industries Stock Up 1.5 %

Shares of EVI stock opened at $19.51 on Wednesday. EVI Industries has a 1-year low of $14.51 and a 1-year high of $27.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.46. The stock has a market cap of $247.39 million, a P/E ratio of 51.34 and a beta of 0.34.

EVI Industries (NYSEAMERICAN:EVI) last released its quarterly 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EVI. Swedbank AB acquired a new stake in EVI Industries in the first quarter worth about $9,338,000. Conestoga Capital Advisors LLC increased its holdings in shares of EVI Industries by 18.3% during the second quarter. Conestoga Capital Advisors LLC now owns 765,651 shares of the industrial products company’s stock valued at $14,486,000 after acquiring an additional 118,490 shares in the last quarter. Comerica Bank raised its position in shares of EVI Industries by 53.8% in 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 last quarter. Vanguard Group Inc. boosted its stake in EVI Industries by 9.0% in the 1st quarter. Vanguard Group Inc. now owns 290,501 shares of the industrial products company’s stock worth $7,233,000 after purchasing an additional 23,880 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in EVI Industries during the 2nd quarter worth approximately $158,000. 37.30% of the stock is owned by institutional investors and hedge funds.

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.