EVI Industries (NYSEAMERICAN:EVI) Receives "Buy" Rating from DA Davidson

Key Points

• EVI Industries has been given a "Buy" rating by DA Davidson, with a price target of $28.00, indicating a potential upside of 1.03% from its previous close.
• The company’s stock is currently trading at $27.72, down 1.8%, with a market cap of approximately $353.64 million.
• Institutional investors hold 37.30% of EVI Industries' stock, with significant stake increases by firms like Royce & Associates LP and King Luther Capital Management Corp.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at DA Davidson in a report released on Friday,Benzinga reports. They presently have a $28.00 price objective on the industrial products company's stock. DA Davidson's target price would suggest a potential upside of 1.03% from the company's previous close.

Separately, Wall Street Zen raised shares of EVI Industries from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $28.00.

EVI Industries Stock Down 1.8%

Shares of EVI Industries stock traded down $0.51 on Friday, hitting $27.72. The company's stock had a trading volume of 8,353 shares, compared to its average volume of 15,496. The stock has a market cap of $353.64 million, a P/E ratio of 56.70 and a beta of 0.01. EVI Industries has a 52-week low of $14.99 and a 52-week high of $29.29. The business has a fifty day moving average of $25.14. The company has a quick ratio of 0.86, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On EVI Industries

A number of institutional investors have recently modified their holdings of EVI. Royce & Associates LP lifted its stake in shares of EVI Industries by 7.8% during the first quarter. Royce & Associates LP now owns 706,635 shares of the industrial products company's stock valued at $11,857,000 after buying an additional 50,894 shares during the period. King Luther Capital Management Corp grew its stake in EVI Industries by 13.5% in the 2nd quarter. King Luther Capital Management Corp now owns 210,500 shares of the industrial products company's stock worth $4,595,000 after acquiring an additional 25,000 shares during the period. Conestoga Capital Advisors LLC raised its holdings in EVI Industries by 2.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 811,660 shares of the industrial products company's stock valued at $13,620,000 after acquiring an additional 23,044 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of EVI Industries during the 2nd quarter worth $381,000. Finally, North Star Investment Management Corp. purchased a new position in shares of EVI Industries during the 1st quarter worth $268,000. Institutional investors and hedge funds 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.

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