EVI Industries (NYSEAMERICAN:EVI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of EVI Industries (NYSEAMERICAN:EVI) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

EVI Industries Stock Performance

EVI opened at $19.70 on Tuesday. EVI Industries has a twelve month low of $14.51 and a twelve month high of $27.90. The stock has a market cap of $249.73 million, a P/E ratio of 52.63 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 issued its earnings results on Thursday, September 12th. The industrial products company reported $0.14 earnings per share 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 declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.31 per share. The ex-dividend date was Thursday, September 26th. This represents a $1.24 annualized dividend and a dividend yield of 6.30%.

Hedge Funds Weigh In On EVI Industries

A number of institutional investors have recently bought and sold shares of EVI. Conestoga Capital Advisors LLC raised its position in 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 valued at $14,986,000 after purchasing an additional 9,615 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of EVI Industries during the 2nd quarter worth about $158,000. Renaissance Technologies LLC raised its holdings in EVI Industries by 18.7% in the 2nd 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 period. Bank of New York Mellon Corp lifted its position 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 buying an additional 1,422 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in 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 buying an additional 4,918 shares during the period. 37.30% of the stock is owned by hedge funds and other institutional investors.

EVI Industries Company Profile

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.