EVI Industries, Inc. $EVI Shares Bought by Comerica Bank

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 holdings in EVI Industries, Inc. (NYSEAMERICAN:EVI - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,745 shares of the industrial products company's stock after buying an additional 9,420 shares during the quarter. Comerica Bank owned about 0.71% of EVI Industries worth $1,523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of EVI. Conestoga Capital Advisors LLC grew its stake in shares of EVI Industries by 2.9% during the 1st quarter. Conestoga Capital Advisors LLC now owns 811,660 shares of the industrial products company's stock worth $13,620,000 after purchasing an additional 23,044 shares during the period. Royce & Associates LP grew its stake in shares of EVI Industries by 7.8% during the 1st quarter. Royce & Associates LP now owns 706,635 shares of the industrial products company's stock worth $11,857,000 after purchasing an additional 50,894 shares during the period. Raymond James Financial Inc. grew its stake in shares of EVI Industries by 4.7% during the 1st quarter. Raymond James Financial Inc. now owns 183,437 shares of the industrial products company's stock worth $3,078,000 after purchasing an additional 8,316 shares during the period. Captrust Financial Advisors grew its stake in shares of EVI Industries by 4.0% during the 4th quarter. Captrust Financial Advisors now owns 144,514 shares of the industrial products company's stock worth $2,363,000 after purchasing an additional 5,529 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of EVI Industries by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 96,028 shares of the industrial products company's stock worth $1,570,000 after purchasing an additional 1,480 shares during the period. Institutional investors and hedge funds own 37.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. DA Davidson assumed coverage on shares of EVI Industries in a research note on Friday, June 6th. They issued a "buy" rating and a $28.00 price target on the stock. Wall Street Zen raised shares of EVI Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $28.00.

EVI Industries Trading Down 0.8%

EVI stock traded down $0.23 during trading on Tuesday, hitting $28.14. 572 shares of the company's stock were exchanged, compared to its average volume of 15,561. The firm's 50-day moving average price is $24.88. The firm has a market capitalization of $359.07 million, a PE ratio of 57.43 and a beta of 0.01. EVI Industries, Inc. has a 52-week low of $14.99 and a 52-week high of $28.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.86.

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.