EVI Industries (NYSEAMERICAN:EVI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of EVI Industries (NYSEAMERICAN:EVI) from a hold rating to a buy rating in a report published on Tuesday morning.

EVI Industries Stock Performance

Shares of NYSEAMERICAN:EVI opened at $20.08 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.44 and a quick ratio of 0.79. EVI Industries has a 52-week low of $14.51 and a 52-week high of $27.00. The stock has a market capitalization of $255.82 million, a PE ratio of 38.62 and a beta of 0.34.

EVI Industries (NYSEAMERICAN:EVI) last issued 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 2.11% and a return on equity of 5.65%. The company had revenue of $90.15 million for the quarter.

EVI Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Thursday, September 26th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.18%. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Investors Weigh In On EVI Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVI. Conestoga Capital Advisors LLC boosted its stake in shares of 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 worth $14,986,000 after buying an additional 9,615 shares during the last quarter. Swedbank AB purchased a new stake in EVI Industries in the 1st quarter worth approximately $9,338,000. Vanguard Group Inc. grew its stake in shares of EVI Industries by 9.0% during 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 during the period. Raymond James & Associates increased its holdings in shares of EVI Industries by 2.7% during the 2nd quarter. Raymond James & Associates now owns 188,083 shares of the industrial products company’s stock valued at $3,559,000 after purchasing an additional 4,918 shares in the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of EVI Industries by 1.1% in the 3rd 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 period. 37.30% of the stock is owned by institutional investors and hedge funds.

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.