EVI Industries' (EVI) Buy Rating Reiterated at DA Davidson

Key Points

• DA Davidson reiterated its Buy rating on EVI Industries and set a $32 price target, implying about 45% upside from the prior close. UBS Group separately downgraded the stock to Hold; the consensus rating is Moderate Buy.
• EVI reported quarterly EPS of $0.24, beating the $0.14 estimate, while revenue of $112.95 million fell short of the $114.70 million consensus.
• Shares traded at $22.07 on Thursday, down $1.07. Institutional investors own 37.3% of the stock, with several firms recently initiating or increasing positions.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at DA Davidson in a research report issued on Thursday, Benzinga reports. They currently have a $32.00 price objective on the industrial products company's stock. DA Davidson's price objective would indicate a potential upside of 44.99% from the company's previous close.

Separately, UBS Group cut EVI Industries to a "hold" rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

EVI Industries Stock Performance

EVI Industries stock traded down $1.07 during trading hours on Thursday, hitting $22.07. The company had a trading volume of 58,999 shares, compared to its average volume of 56,999. The firm has a market cap of $286.26 million, a PE ratio of 36.32 and a beta of 0.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.56 and a quick ratio of 0.87. EVI Industries has a one year low of $12.75 and a one year high of $27.00. The firm has a 50-day moving average of $19.05 and a 200 day moving average of $18.53.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.10. EVI Industries had a net margin of 2.15% and a return on equity of 6.54%. The firm had revenue of $112.95 million during the quarter, compared to the consensus estimate of $114.70 million.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp acquired a new stake in shares of EVI Industries in the first quarter valued at approximately $3,102,000. BlackRock Inc. acquired a new stake in EVI Industries during the second quarter worth approximately $5,217,000. Aristides Capital LLC acquired a new stake in EVI Industries during the first quarter worth approximately $862,000. Russell Investments Group Ltd. increased its stake in EVI Industries by 1,050.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 38,922 shares of the industrial products company's stock worth $747,000 after acquiring an additional 35,539 shares during the period. Finally, Sei Investments Co. increased its stake in EVI Industries by 59.3% during the 1st quarter. Sei Investments Co. now owns 66,096 shares of the industrial products company's stock worth $1,360,000 after acquiring an additional 24,613 shares during the period. 37.30% of the stock is owned by institutional investors.

About EVI Industries

EVI Industries, Inc. is a value-added distributor of commercial and industrial equipment, parts, supplies and related services. The company primarily serves the commercial laundry, dry-cleaning and textile-care markets, providing equipment such as washers, dryers, finishing systems and dry-cleaning machines, along with installation, maintenance, repair and technical support. EVI's customers include businesses and institutions in the hospitality, healthcare, multi-housing, laundromat, government, correctional and other service industries.

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