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

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

EVI Industries Trading Up 3.3 %

Shares of EVI Industries stock opened at $19.24 on Friday. EVI Industries has a twelve month low of $14.51 and a twelve month high of $28.65. The firm has a market capitalization of $243.96 million, a P/E ratio of 50.63 and a beta of 0.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.46.

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 firm had revenue of $90.15 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of EVI Industries during the second quarter worth about $158,000. Renaissance Technologies LLC increased 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 worth $260,000 after acquiring an additional 2,168 shares during the last quarter. Conestoga Capital Advisors LLC increased its position 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 worth $14,486,000 after acquiring an additional 118,490 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 worth $407,000 after acquiring an additional 1,422 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of 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 acquiring an additional 4,918 shares during the last quarter. Institutional investors and hedge funds own 37.30% of the company’s stock.

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.