EVI Industries (NYSEAMERICAN:EVI) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• EVI Industries' share price has risen above its 200-day moving average, currently trading at $34.24, compared to a moving average of $21.28.
• Analysts from DA Davidson have set a new price target of $33.00 for EVI Industries, with an average rating of "Buy" from market analysts.
• The company has declared a special dividend of $0.33 per share, scheduled to be paid on October 6th to shareholders on record as of September 25th.

EVI Industries, Inc. (NYSEAMERICAN:EVI - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $21.28 and traded as high as $34.75. EVI Industries shares last traded at $34.24, with a volume of 13,080 shares changing hands.

Analysts Set New Price Targets

Separately, DA Davidson set a $33.00 price objective on shares of EVI Industries in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $33.00.

EVI Industries Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 0.84. The stock's fifty day simple moving average is $26.01 and its 200-day simple moving average is $21.28. The company has a market capitalization of $436.90 million, a P/E ratio of 69.88 and a beta of 0.01.

EVI Industries Announces Dividend

The firm 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 $0.33 dividend. The ex-dividend date of this dividend is Thursday, September 25th.

Institutional Investors Weigh In On EVI Industries

Several hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its position in EVI Industries by 39.6% during the fourth quarter. Bank of America Corp DE now owns 4,988 shares of the industrial products company's stock worth $82,000 after acquiring an additional 1,416 shares during the period. Citadel Advisors LLC increased its holdings in shares of EVI Industries by 30.8% during the 4th quarter. Citadel Advisors LLC now owns 23,567 shares of the industrial products company's stock worth $385,000 after purchasing an additional 5,543 shares during the period. Deutsche Bank AG raised its position in shares of EVI Industries by 70.4% during the fourth quarter. Deutsche Bank AG now owns 5,909 shares of the industrial products company's stock valued at $97,000 after buying an additional 2,441 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of EVI Industries by 30,361.5% in the first quarter. GAMMA Investing LLC now owns 3,960 shares of the industrial products company's stock valued at $66,000 after buying an additional 3,947 shares during the period. Finally, Rhumbline Advisers grew its position in 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 buying an additional 940 shares in the last quarter. 37.30% of the stock is owned by institutional investors.

About EVI Industries

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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