EVI Industries (NYSEAMERICAN:EVI) Given Buy Rating at DA Davidson

Key Points

• DA Davidson reaffirmed its Buy rating on EVI Industries and set a $32 price target, implying approximately 81% upside from the prior close.
• EVI shares rose 0.1% to $17.68, while the company’s latest quarterly results matched expectations with $0.17 EPS and exceeded revenue estimates, reporting $121.87 million versus $117.10 million expected.
• Institutional investors own 37.3% of EVI, with several firms—including Dimensional Fund Advisors and Bank of New York Mellon—recently increasing their positions.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at DA Davidson in a report issued on Friday, Benzinga reports. They presently have a $32.00 price target on the industrial products company's stock. DA Davidson's price target would suggest a potential upside of 81.04% from the company's previous close.

EVI Industries Stock Up 0.1%

Shares of NYSEAMERICAN EVI traded up $0.02 during trading on Friday, reaching $17.68. The company had a trading volume of 5,111 shares, compared to its average volume of 52,001. 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 $227.67 million, a PE ratio of 36.81 and a beta of 0.09. The business's 50-day moving average is $15.07 and its 200 day moving average is $17.36. The company has a quick ratio of 0.87, a current ratio of 1.64 and a debt-to-equity ratio of 0.34.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report) last posted its quarterly earnings results on Tuesday, September 8th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The firm had revenue of $121.87 million during the quarter, compared to analyst estimates of $117.10 million. EVI Industries had a return on equity of 5.31% and a net margin of 1.73%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EVI. Bard Associates Inc. increased its position in EVI Industries by 4.5% during the fourth quarter. Bard Associates Inc. now owns 14,720 shares of the industrial products company's stock valued at $363,000 after acquiring an additional 631 shares during the last quarter. Bank of New York Mellon Corp boosted its position in EVI Industries by 7.8% in the first quarter. Bank of New York Mellon Corp now owns 19,402 shares of the industrial products company's stock worth $399,000 after purchasing an additional 1,408 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in EVI Industries in the second quarter worth about $59,000. Deutsche Bank AG bought a new stake in shares of EVI Industries during the 2nd quarter valued at about $62,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of EVI Industries by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 111,750 shares of the industrial products company's stock valued at $2,300,000 after purchasing an additional 4,187 shares during the period. Institutional investors own 37.30% of the company's stock.

About EVI Industries

EVI Industries, Inc is a distributor of commercial and industrial equipment and related services. The company primarily serves the textile-care industry, supplying commercial laundry and dry-cleaning equipment such as washers, dryers, finishing systems, ironers, folders and garment-care equipment.

In addition to equipment sales, EVI provides installation, maintenance, repair, technical support, replacement parts and operating supplies. Its customers include businesses and institutions in the hospitality, health care, correctional, retail laundry, dry-cleaning and other textile-service markets.

Headquartered in Miami, Florida, EVI serves customers through a network of operating companies and distribution locations in the United States and selected international markets.

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