EVI Industries (NYSEAMERICAN:EVI) Stock Breaks Above 200 Day Moving Average - What's Next?

Key Points

• EVI Industries shares rose above their 200-day moving average of $17.20, reaching $20.31 and last trading at $20.13.
• DA Davidson maintained a Buy rating with a $32 price target; the stock has a consensus Buy rating and $32 consensus target from analysts.
• The company met quarterly earnings expectations at $0.17 per share and exceeded revenue estimates, reporting $121.87 million versus the expected $117.10 million. Institutional investors own 37.3% of the stock.

EVI Industries, Inc. (NYSEAMERICAN:EVI - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $17.20 and traded as high as $20.31. EVI Industries shares last traded at $20.13, with a volume of 72,871 shares trading hands.

Analysts Set New Price Targets

Separately, DA Davidson reaffirmed a "buy" rating and set a $32.00 target price on shares of EVI Industries in a report on Friday, September 18th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $32.00.

EVI Industries Price Performance

The stock has a market capitalization of $259.27 million, a P/E ratio of 41.94 and a beta of 0.10. The company has a 50 day moving average of $17.11 and a 200-day moving average of $17.20. The company has a quick ratio of 0.87, a current ratio of 1.64 and a debt-to-equity ratio of 0.34.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report) last released its earnings results on Tuesday, September 8th. The industrial products company reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $121.87 million during the quarter, compared to analyst estimates of $117.10 million. EVI Industries had a net margin of 1.73% and a return on equity of 5.31%.

Institutional Investors Weigh In On EVI Industries

A number of institutional investors have recently modified their holdings of EVI. Hsbc Holdings PLC acquired a new stake in EVI Industries during the second quarter worth about $177,000. Bank of America Corp DE bought a new position in EVI Industries in the second quarter worth about $217,000. Northwestern Mutual Wealth Management Co. acquired a new position in EVI Industries in the second quarter valued at approximately $59,000. Bard Associates Inc. acquired a new position in EVI Industries in the second quarter valued at approximately $216,000. Finally, BlackRock Inc. acquired a new position in EVI Industries in the second quarter valued at approximately $5,217,000. Institutional investors own 37.30% of the company's stock.

EVI Industries Company Profile

EVI Industries, Inc is a distributor of commercial, industrial and vended laundry equipment and related products. Through its operating subsidiaries, the company supplies washers, dryers, ironing and finishing equipment, laundry management systems, parts, chemicals and other supplies used by businesses and institutions.

EVI also provides installation, technical support, maintenance and repair services. Its customers include laundromats, hotels, healthcare facilities, correctional institutions, educational organizations, government agencies and other commercial operators that rely on professional laundry and textile-care operations.

Headquartered in Miami, Florida, EVI serves customers primarily in the United States and Canada through a network of regional operations and distribution businesses.

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