EVI Industries (NYSEAMERICAN:EVI) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• EVI Industries' share price has recently crossed above its 200-day moving average, reaching a high of $28.38 during trading, with the last recorded price at $27.74.
• Analysts have set a new price target for EVI Industries at $33.00, with a consensus rating of "Buy" from market analysts.
• The company also announced a special dividend of $0.33 per share, set to be paid on October 6th to investors of record as of September 25th.

EVI Industries, Inc. (NYSEAMERICAN:EVI - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $28.38. EVI Industries shares last traded at $27.74, with a volume of 8,450 shares traded.

Analysts Set New Price Targets

Separately, DA Davidson set a $33.00 price target on EVI Industries in a report on Tuesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $33.00.

EVI Industries Price Performance

The firm has a market capitalization of $399.52 million, a PE ratio of 63.90 and a beta of 0.01. The business has a 50-day moving average of $25.46 and a 200 day moving average of $21.01. The company has a current ratio of 1.53, a quick ratio of 0.84 and a debt-to-equity ratio of 0.37.

EVI Industries Announces Dividend

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

Institutional Investors Weigh In On EVI Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. SVB Wealth LLC purchased a new stake in EVI Industries in the 1st quarter valued at $25,000. Tower Research Capital LLC TRC increased its holdings in EVI Industries by 237.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,001 shares of the industrial products company's stock worth $44,000 after acquiring an additional 1,408 shares during the last quarter. Corebridge Financial Inc. increased its holdings in EVI Industries by 24.9% in the 1st quarter. Corebridge Financial Inc. now owns 3,206 shares of the industrial products company's stock worth $54,000 after acquiring an additional 639 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in EVI Industries by 5,337.1% in the 1st quarter. Russell Investments Group Ltd. now owns 3,371 shares of the industrial products company's stock worth $57,000 after acquiring an additional 3,309 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in EVI Industries by 27.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,814 shares of the industrial products company's stock worth $64,000 after acquiring an additional 829 shares during the last quarter. 37.30% of the stock is owned by hedge funds and other institutional investors.

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.