EVI Industries (NYSEAMERICAN:EVI) Earns Buy Rating from DA Davidson

Key Points

• DA Davidson reiterated its “buy” rating on EVI Industries and maintained a $32 price target, implying 103.63% potential upside from the prior close.
• EVI shares rose 3.3% to $15.71 in Thursday trading. The company recently reported quarterly EPS of $0.17, in line with estimates, while revenue of $121.87 million exceeded expectations.
• Institutional investors own 37.3% of EVI’s stock, with several major funds increasing their positions or establishing new stakes.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at DA Davidson in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $32.00 price objective on the industrial products company's stock. DA Davidson's target price would suggest a potential upside of 103.63% from the company's previous close.

EVI Industries Stock Up 3.3%

Shares of NYSEAMERICAN:EVI traded up $0.49 during mid-day trading on Thursday, hitting $15.71. 15,733 shares of the company traded hands, compared to its average volume of 51,574. The company has a current ratio of 1.60, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41. EVI Industries has a 12-month low of $12.75 and a 12-month high of $34.82. The stock has a market cap of $202.25 million, a P/E ratio of 33.12 and a beta of 0.09. The stock has a 50-day moving average price of $14.98 and a two-hundred day moving average price of $17.49.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report) last issued its quarterly earnings results on Tuesday, September 8th. The industrial products company reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. EVI Industries had a return on equity of 5.38% and a net margin of 1.73%.The business had revenue of $121.87 million during the quarter, compared to analysts' expectations of $117.10 million.

Hedge Funds Weigh In On EVI Industries

Large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in EVI Industries by 30,492.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,212,392 shares of the industrial products company's stock worth $29,873,000 after purchasing an additional 1,208,429 shares in the last quarter. Royce & Associates LP grew its position in shares of EVI Industries by 4.5% in the 4th quarter. Royce & Associates LP now owns 844,417 shares of the industrial products company's stock valued at $20,806,000 after acquiring an additional 36,272 shares during the period. BlackRock Inc. acquired a new stake in shares of EVI Industries during the second quarter worth $5,217,000. King Luther Capital Management Corp lifted its stake in EVI Industries by 5.0% during the fourth quarter. King Luther Capital Management Corp now owns 230,500 shares of the industrial products company's stock worth $5,680,000 after purchasing an additional 11,057 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of EVI Industries by 5.5% in the 3rd quarter. Raymond James Financial Inc. now owns 190,512 shares of the industrial products company's stock valued at $6,022,000 after purchasing an additional 9,883 shares during the last quarter. 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. It offers washroom equipment, such as washers and dryers, tunnel systems, and vended machines; finishing equipment comprising sheet feeders, flatwork ironers, automatic sheet folders, and stackers; and material handling equipment, including conveyor and rail systems.

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