DA Davidson Reaffirms Buy Rating for EVI Industries (NYSEAMERICAN:EVI)

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.

DA Davidson reissued their buy rating on shares of EVI Industries (NYSEAMERICAN:EVI - Free Report) in a research report released on Friday morning,Benzinga reports. The firm currently has a $28.00 price objective on the industrial products company's stock.

Separately, Wall Street Zen upgraded EVI Industries from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $33.00.

EVI Industries Price Performance

Shares of EVI traded down $0.36 during mid-day trading on Friday, reaching $27.39. The company's stock had a trading volume of 12,682 shares, compared to its average volume of 15,509. EVI Industries has a 12-month low of $14.99 and a 12-month high of $29.29. The firm has a market capitalization of $349.43 million, a PE ratio of 55.89 and a beta of 0.01. The company has a current ratio of 1.53, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37. The firm's 50 day moving average price is $25.29.

EVI Industries Dividend Announcement

The company also recently declared a special dividend, which will be paid on Monday, October 6th. Shareholders of record on Thursday, September 25th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, September 25th.

Institutional Investors Weigh In On EVI Industries

A number of institutional investors have recently added to or reduced their stakes in the company. Corebridge Financial Inc. grew its position in EVI Industries by 24.9% during the first quarter. Corebridge Financial Inc. now owns 3,206 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 639 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 worth $64,000 after purchasing an additional 829 shares in the last quarter. Bard Associates Inc. lifted its stake in shares of EVI Industries by 7.6% during the first quarter. Bard Associates Inc. now owns 13,031 shares of the industrial products company's stock worth $219,000 after purchasing an additional 918 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of EVI Industries by 21.4% during the first quarter. Rhumbline Advisers now owns 5,336 shares of the industrial products company's stock worth $90,000 after purchasing an additional 940 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of 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 in the last quarter. Hedge funds and other 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.