EVI Industries (NYSEAMERICAN:EVI) Share Price Passes Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Shares fell below their 200‑day moving average, trading at $21.28 versus the 200‑day average of $23.64 and down about 4.1% on the session, indicating near‑term technical weakness.
• DA Davidson reaffirmed a Buy and set a $35.00 target (MarketBeat average target $35), implying significant upside from current prices.
• Recent quarter showed a slight EPS miss ($0.15 vs. $0.16) but revenue beat ($115.29M vs. $108.0M); the company trades at a PE of ~45.3, market cap ~$274M, and has about 37% institutional ownership.

EVI Industries, Inc. (NYSEAMERICAN:EVI - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.64 and traded as low as $20.87. EVI Industries shares last traded at $21.28, with a volume of 12,537 shares.

Analysts Set New Price Targets

Separately, DA Davidson reaffirmed a "buy" rating and issued a $35.00 target price on shares of EVI Industries in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $35.00.

EVI Industries Stock Down 4.1%

The firm has a 50-day simple moving average of $20.82 and a 200 day simple moving average of $23.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.58 and a quick ratio of 0.77. The company has a market capitalization of $273.66 million, a PE ratio of 45.28 and a beta of 0.11.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report) last released its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The company had revenue of $115.29 million during the quarter, compared to analysts' expectations of $108.00 million. EVI Industries had a net margin of 1.72% and a return on equity of 5.18%.

Hedge Funds Weigh In On EVI Industries

A number of hedge funds have recently bought and sold shares of the company. Bard Associates Inc. grew its stake in EVI Industries by 4.5% in the fourth quarter. Bard Associates Inc. now owns 14,720 shares of the industrial products company's stock worth $363,000 after purchasing an additional 631 shares in the last quarter. State Street Corp boosted its stake in EVI Industries by 0.8% in the fourth quarter. State Street Corp now owns 89,460 shares of the industrial products company's stock valued at $2,204,000 after acquiring an additional 715 shares during the period. Wells Fargo & Company MN boosted its stake in EVI Industries by 12.6% in the fourth quarter. Wells Fargo & Company MN now owns 16,498 shares of the industrial products company's stock valued at $407,000 after acquiring an additional 1,852 shares during the period. Renaissance Technologies LLC boosted its stake in EVI Industries by 4.4% in the fourth quarter. Renaissance Technologies LLC now owns 16,697 shares of the industrial products company's stock valued at $411,000 after acquiring an additional 700 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in EVI Industries by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 107,563 shares of the industrial products company's stock valued at $2,652,000 after acquiring an additional 3,183 shares during the period. 37.30% of the stock is currently owned by institutional investors and hedge funds.

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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