Comerica Bank Increases Position in EVI Industries, Inc. $EVI

Key Points

• Comerica Bank increased its stake in EVI Industries, Inc. by 11.6%, now owning approximately 0.71% of the company valued at $1,523,000.
• Several institutional investors, including GAMMA Investing LLC and Russell Investments Group Ltd., significantly increased their positions in EVI Industries during the 1st quarter, indicating strong interest in the stock.
• Wall Street analysts have shown optimism, issuing a "buy" rating for EVI Industries with a consensus target price of $28.00.

Comerica Bank increased its stake in EVI Industries, Inc. (NYSEAMERICAN:EVI - Free Report) by 11.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,745 shares of the industrial products company's stock after acquiring an additional 9,420 shares during the period. Comerica Bank owned about 0.71% of EVI Industries worth $1,523,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EVI. SVB Wealth LLC purchased a new position in EVI Industries in the 1st quarter worth $25,000. Russell Investments Group Ltd. raised its position in EVI Industries by 5,337.1% in the 1st quarter. Russell Investments Group Ltd. now owns 3,371 shares of the industrial products company's stock worth $57,000 after purchasing an additional 3,309 shares during the period. GAMMA Investing LLC raised its position in EVI Industries by 30,361.5% in the 1st quarter. GAMMA Investing LLC now owns 3,960 shares of the industrial products company's stock worth $66,000 after purchasing an additional 3,947 shares during the period. Bank of America Corp DE raised its position in EVI Industries by 39.6% in the 4th 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 period. Finally, Rhumbline Advisers raised its position in EVI Industries by 21.4% in the 1st 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 period. 37.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on EVI. DA Davidson began coverage on shares of EVI Industries in a research report on Friday, June 6th. They issued a "buy" rating and a $28.00 target price on the stock. Wall Street Zen upgraded shares of EVI Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $28.00.

EVI Industries Stock Down 0.1%

Shares of EVI opened at $27.37 on Thursday. The stock has a market cap of $349.24 million, a PE ratio of 55.86 and a beta of 0.01. The company has a quick ratio of 0.86, a current ratio of 1.51 and a debt-to-equity ratio of 0.17. The firm's fifty day moving average price is $24.46. EVI Industries, Inc. has a twelve month low of $14.99 and a twelve month high of $28.17.

EVI Industries 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.

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