BlackRock Inc. Invests $5.22 Million in EVI Industries, Inc. $EVI

Key Points

• BlackRock purchased 352,964 shares of EVI Industries during the second quarter, worth approximately $5.22 million and representing a 2.74% stake.
• Other institutions also increased their holdings, contributing to total institutional ownership of 37.3% of EVI Industries’ stock.
• DA Davidson reaffirmed a “Buy” rating with a $32 price target. EVI shares opened at $13.66, near the lower end of their 12-month range of $12.75 to $34.82.

BlackRock Inc. purchased a new stake in EVI Industries, Inc. (NYSEAMERICAN:EVI - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 352,964 shares of the industrial products company's stock, valued at approximately $5,217,000. BlackRock Inc. owned 2.74% of EVI Industries as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE raised its stake 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 last quarter. Rhumbline Advisers grew its holdings in shares of EVI Industries by 21.4% during the first quarter. Rhumbline Advisers now owns 5,336 shares of the industrial products company's stock valued at $90,000 after purchasing an additional 940 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of EVI Industries by 237.4% during the 2nd 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. Finally, Dimensional Fund Advisors LP raised its position in shares of EVI Industries by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 104,380 shares of the industrial products company's stock worth $3,300,000 after purchasing an additional 852 shares during the period. Institutional investors own 37.30% of the company's stock.

Analyst Upgrades and Downgrades

Separately, DA Davidson restated a "buy" rating and set a $32.00 price objective on shares of EVI Industries in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $32.00.

EVI Industries Stock Performance

EVI opened at $13.66 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41. The business's 50 day moving average is $15.00 and its 200-day moving average is $17.62. The stock has a market cap of $175.80 million, a PE ratio of 30.36 and a beta of 0.09. EVI Industries, Inc. has a twelve month low of $12.75 and a twelve month high of $34.82.

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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