EVI Industries (NYSEAMERICAN:EVI) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• EVI shares fell below their 200‑day moving average, trading as low as $19.75 and last at $19.99 (200‑day MA $23.27), down about 3.7% on the session.
• Analyst sentiment remains bullish: DA Davidson reiterated a Buy rating with a $35 target, and the consensus rating on the stock is Buy with a $35 average target.
• Fundamentals are mixed — the company reported Q results of $0.15 EPS (missed $0.16) but revenue of $115.29M beat the $108M estimate; market cap is ~$257M, P/E ~42.5, and net margin ~1.72%.

EVI Industries, Inc. (NYSEAMERICAN:EVI - Get Free Report)'s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $23.27 and traded as low as $19.75. EVI Industries shares last traded at $19.99, with a volume of 28,155 shares traded.

Wall Street Analyst Weigh In

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

EVI Industries Trading Down 3.7%

The stock has a 50 day moving average of $20.56 and a 200-day moving average of $23.27. The company has a market capitalization of $257.07 million, a P/E ratio of 42.53 and a beta of 0.11. The company has a current ratio of 1.58, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report) last issued its earnings results 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 firm 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 large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in EVI Industries by 237.4% in 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 during the period. BNP Paribas Financial Markets boosted its stake in shares of EVI Industries by 45.2% during the third quarter. BNP Paribas Financial Markets now owns 1,577 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 491 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 valued at $64,000 after purchasing an additional 829 shares during the period. Bank of America Corp DE grew its holdings in shares of EVI Industries by 39.6% in the fourth quarter. Bank of America Corp DE now owns 4,988 shares of the industrial products company's stock worth $82,000 after purchasing an additional 1,416 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of EVI Industries by 21.4% in 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 during the last quarter. 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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