Royce & Associates LP Has $11.86 Million Position in EVI Industries, Inc. (NYSEAMERICAN:EVI)

Key Points

• Royce & Associates LP increased its holdings in EVI Industries by 7.8%, owning 706,635 shares valued at approximately $11.86 million following the acquisition of 50,894 additional shares.
• In addition to Royce & Associates, other investors such as GAMMA Investing LLC and Bank of America Corp DE significantly boosted their stakes, showing strong institutional interest in the company.
• EVI Industries has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, with a target price set at $28.00 following positive analyst coverage.

Royce & Associates LP grew its stake in EVI Industries, Inc. (NYSEAMERICAN:EVI - Free Report) by 7.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 706,635 shares of the industrial products company's stock after purchasing an additional 50,894 shares during the period. Royce & Associates LP owned about 5.54% of EVI Industries worth $11,857,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. bought a new position in EVI Industries during the 4th quarter valued at about $2,863,000. Natixis Advisors LLC lifted its holdings in EVI Industries by 5.5% during the 4th quarter. Natixis Advisors LLC now owns 35,590 shares of the industrial products company's stock valued at $582,000 after purchasing an additional 1,864 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in EVI Industries by 101.4% during the 4th quarter. JPMorgan Chase & Co. now owns 20,829 shares of the industrial products company's stock valued at $341,000 after purchasing an additional 10,488 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of EVI Industries by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 113,880 shares of the industrial products company's stock worth $1,862,000 after acquiring an additional 892 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of EVI Industries by 11.7% in the fourth quarter. Barclays PLC now owns 8,091 shares of the industrial products company's stock worth $132,000 after acquiring an additional 847 shares during the last quarter. 37.30% of the stock is currently owned by institutional investors and hedge funds.

EVI Industries Stock Up 0.7%

Shares of EVI stock traded up $0.18 on Tuesday, reaching $23.56. The company had a trading volume of 907 shares, compared to its average volume of 16,531. The firm has a market capitalization of $300.56 million, a PE ratio of 48.07 and a beta of 0.03. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.86. The firm has a 50-day simple moving average of $21.19. EVI Industries, Inc. has a one year low of $14.51 and a one year high of $27.69.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. DA Davidson assumed coverage on shares of EVI Industries in a research note on Friday, June 6th. They set a "buy" rating and a $28.00 price target for the company. Wall Street Zen raised shares of EVI Industries from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th.

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.