EVI Industries (NYSEAMERICAN:EVI) Announces Quarterly Earnings Results

Key Points

• EVI Industries met earnings expectations, reporting quarterly EPS of $0.17, while revenue of $121.87 million exceeded the $117.10 million consensus estimate.
• The stock opened at $13.66 and remains well below its 52-week high of $34.82; EVI has a $175.8 million market capitalization and a 30.36 price-to-earnings ratio.
• Institutional investors own 37.3% of the company, with several funds recently increasing their positions. DA Davidson maintained a “Buy” rating and a $32 price target, matching the current analyst consensus.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report) released its earnings results on Tuesday. The industrial products company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17, FiscalAI reports. EVI Industries had a return on equity of 4.92% and a net margin of 1.63%.The company had revenue of $121.87 million for the quarter, compared to the consensus estimate of $117.10 million.

EVI Industries Stock Performance

EVI stock opened at $13.66 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.76 and a current ratio of 1.60. The stock's fifty day moving average is $14.98 and its two-hundred day moving average is $17.55. EVI Industries has a 1 year low of $12.75 and a 1 year high of $34.82. The stock has a market capitalization of $175.80 million, a price-to-earnings ratio of 30.36 and a beta of 0.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EVI. Tower Research Capital LLC TRC lifted its position in EVI Industries by 237.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,001 shares of the industrial products company's stock worth $44,000 after purchasing an additional 1,408 shares during the period. BNP Paribas Financial Markets raised its stake in shares of EVI Industries by 45.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,577 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 491 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in EVI Industries by 27.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,814 shares of the industrial products company's stock valued at $64,000 after purchasing an additional 829 shares in the last quarter. Bank of America Corp DE boosted its position in EVI Industries by 39.6% during the 4th quarter. Bank of America Corp DE now owns 4,988 shares of the industrial products company's stock valued at $82,000 after buying an additional 1,416 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of EVI Industries by 21.4% during the 1st quarter. Rhumbline Advisers now owns 5,336 shares of the industrial products company's stock valued at $90,000 after buying an additional 940 shares in the last quarter. 37.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reaffirmed a "buy" rating and set a $32.00 price objective on shares of EVI Industries in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, EVI Industries presently has an average rating of "Buy" and a consensus target price of $32.00.

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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