EVI Industries (NYSEAMERICAN:EVI) Stock Crosses Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Technical breach: EVI shares fell below their 200‑day moving average of $24.03, trading as low as $21.25 and last at $21.49 on a volume of 46,839, a move often viewed as a bearish/technical sell signal.
• Analysts remain bullish: DA Davidson reaffirmed a "buy" rating and set a $35 target, and the consensus rating on the stock is currently "Buy" with a $35 consensus price target.
• Mixed fundamentals: the company reported a slight EPS miss ($0.15 vs. $0.16) but revenue beat ($115.29M vs. $108M); EVI has a market cap of ~$276M, a P/E of 45.72 and a low net margin of 1.72%.

EVI Industries, Inc. (NYSEAMERICAN:EVI - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.03 and traded as low as $21.25. EVI Industries shares last traded at $21.49, with a volume of 46,839 shares traded.

Analyst Upgrades and Downgrades

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 analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $35.00.

EVI Industries Stock Up 0.3%

The company has a current ratio of 1.58, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. The firm has a market cap of $276.36 million, a P/E ratio of 45.72 and a beta of 0.11. The company's 50 day simple moving average is $21.21 and its 200-day simple moving average is $24.03.

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

Hedge Funds Weigh In On EVI Industries

Several institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake in shares of EVI Industries by 45.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,577 shares of the industrial products company's stock worth $50,000 after purchasing an additional 491 shares during the period. Empire Life Investments Inc. lifted its stake in shares of EVI Industries by 0.3% in the 4th quarter. Empire Life Investments Inc. now owns 168,427 shares of the industrial products company's stock worth $4,150,000 after purchasing an additional 547 shares during the period. Deutsche Bank AG lifted its stake in shares of EVI Industries by 17.5% in the 4th quarter. Deutsche Bank AG now owns 4,017 shares of the industrial products company's stock worth $99,000 after purchasing an additional 597 shares during the period. Natixis Advisors LLC lifted its stake in shares of EVI Industries by 1.7% in the 3rd quarter. Natixis Advisors LLC now owns 36,518 shares of the industrial products company's stock worth $1,154,000 after purchasing an additional 622 shares during the period. Finally, Bard Associates Inc. lifted its stake in shares of EVI Industries by 4.5% in the 4th 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 during the period. 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. 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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