EVI Industries (NYSEAMERICAN:EVI) Raised 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 Friday morning.

EVI Industries Stock Performance

Shares of NYSEAMERICAN:EVI opened at $19.61 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.46 and a quick ratio of 0.77. EVI Industries has a fifty-two week low of $14.51 and a fifty-two week high of $28.65. The firm has a market cap of $248.65 million, a P/E ratio of 53.00 and a beta of 0.34.

EVI Industries Dividend Announcement

The business also recently announced a dividend, which will be paid on Monday, October 7th. Investors of record on Thursday, September 26th will be given a dividend of $0.31 per share. The ex-dividend date is Thursday, September 26th.

Hedge Funds Weigh In On EVI Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB purchased a new stake in EVI Industries during the first quarter valued at $9,338,000. Conestoga Capital Advisors LLC raised its stake in 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 purchasing an additional 118,490 shares in the last quarter. Comerica Bank raised its stake in EVI Industries by 53.8% during the first 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 in the last quarter. Vanguard Group Inc. raised its stake in EVI Industries by 9.0% during the first quarter. Vanguard Group Inc. now owns 290,501 shares of the industrial products company’s stock valued at $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 second quarter valued at $158,000. Institutional investors 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.