EVI Industries (NYSEAMERICAN:EVI) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• EVI Industries shares rose above their 200-day moving average of $17.36, reaching $18.29 before closing at $17.66 on volume of 84,998 shares.
• DA Davidson reaffirmed a Buy rating and $32 price target; the stock has a consensus Buy rating and target, implying substantial upside from its recent price.
• The company’s latest quarter met earnings expectations at $0.17 per share, while revenue of $121.87 million exceeded the $117.10 million consensus estimate. Institutional investors own 37.3% of the stock, with BlackRock making the largest reported new investment.

EVI Industries, Inc. (NYSEAMERICAN:EVI - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.36 and traded as high as $18.29. EVI Industries shares last traded at $17.66, with a volume of 84,998 shares changing hands.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a "buy" rating and issued a $32.00 target price on shares of EVI Industries in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $32.00.

EVI Industries Stock Performance

The stock's 50-day moving average price is $15.07 and its 200-day moving average price is $17.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.87 and a current ratio of 1.64. The company has a market capitalization of $227.46 million, a price-to-earnings ratio of 36.79 and a beta of 0.09.

EVI Industries (NYSEAMERICAN:EVI - Get Free Report) last posted 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 the consensus estimate of $117.10 million. EVI Industries had a net margin of 1.73% and a return on equity of 5.31%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in EVI Industries in the second quarter valued at approximately $177,000. Bank of America Corp DE purchased a new stake in EVI Industries during the second quarter worth approximately $217,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of EVI Industries in the 2nd quarter valued at $59,000. Bard Associates Inc. purchased a new position in shares of EVI Industries in the 2nd quarter valued at $216,000. Finally, BlackRock Inc. acquired a new position in shares of EVI Industries during the 2nd quarter valued at $5,217,000. 37.30% of the stock is currently owned by hedge funds and other institutional investors.

EVI Industries Company Profile

EVI Industries, Inc is a distributor of commercial and industrial equipment and related services. The company primarily serves the textile-care industry, supplying commercial laundry and dry-cleaning equipment such as washers, dryers, finishing systems, ironers, folders and garment-care equipment.

In addition to equipment sales, EVI provides installation, maintenance, repair, technical support, replacement parts and operating supplies. Its customers include businesses and institutions in the hospitality, health care, correctional, retail laundry, dry-cleaning and other textile-service markets.

Headquartered in Miami, Florida, EVI serves customers through a network of operating companies and distribution locations in the United States and selected international markets.

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