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

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

EVI Industries Stock Performance

Shares of EVI opened at $18.57 on Tuesday. EVI Industries has a fifty-two week low of $14.51 and a fifty-two week high of $27.00. The stock has a market capitalization of $236.58 million, a price-to-earnings ratio of 37.14 and a beta of 0.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.79 and a current ratio of 1.44.

EVI Industries (NYSEAMERICAN:EVI) last posted its quarterly earnings results on Thursday, September 12th. The industrial products company reported $0.14 earnings per share for the quarter. The company had revenue of $90.15 million for the quarter. EVI Industries had a return on equity of 5.65% and a net margin of 2.11%.

EVI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Thursday, September 26th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Investors Weigh In On EVI Industries

Several institutional investors and hedge funds have recently made changes to their positions in EVI. Barclays PLC increased its holdings in EVI Industries by 206.6% in the 3rd quarter. Barclays PLC now owns 7,244 shares of the industrial products company’s stock worth $139,000 after buying an additional 4,881 shares in the last quarter. State Street Corp grew its stake in shares of EVI Industries by 1.9% in the third 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. Captrust Financial Advisors raised its holdings in shares of EVI Industries by 1.1% during the third quarter. Captrust Financial Advisors now owns 138,985 shares of the industrial products company’s stock valued at $2,687,000 after purchasing an additional 1,472 shares during the last quarter. BNP Paribas Financial Markets lifted its position in EVI Industries by 122.3% during the third quarter. BNP Paribas Financial Markets now owns 4,338 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 2,387 shares during the period. Finally, FMR LLC lifted its position in EVI Industries by 1,868.5% during the third quarter. FMR LLC now owns 4,252 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 4,036 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.