EVI Industries (NYSEAMERICAN:EVI) Upgraded to Buy at StockNews.com

EVI Industries (NYSEAMERICAN:EVI) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

EVI Industries Price Performance

EVI Industries stock traded down $0.22 during mid-day trading on Tuesday, reaching $18.57. 9,435 shares of the company’s stock traded hands, compared to its average volume of 16,380. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.15. EVI Industries has a 12-month low of $14.51 and a 12-month high of $27.00. The company has a market cap of $236.58 million, a price-to-earnings ratio of 37.14 and a beta of 0.34.

EVI Industries (NYSEAMERICAN:EVI) last announced its earnings results on Thursday, September 12th. The industrial products company reported $0.14 EPS for the quarter. The business had revenue of $90.15 million during the quarter. EVI Industries had a net margin of 2.11% and a return on equity of 5.65%.

Hedge Funds Weigh In On EVI Industries

Hedge funds have recently modified their holdings of the business. Gladius Capital Management LP purchased a new stake in shares of EVI Industries during the 2nd quarter worth approximately $29,000. American International Group Inc. grew its stake in shares of EVI Industries by 35.6% during the 1st quarter. American International Group Inc. now owns 3,195 shares of the industrial products company’s stock valued at $80,000 after buying an additional 838 shares during the period. FMR LLC raised its holdings in EVI Industries by 1,868.5% in the third quarter. FMR LLC now owns 4,252 shares of the industrial products company’s stock valued at $82,000 after buying an additional 4,036 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of EVI Industries by 122.3% during the third quarter. BNP Paribas Financial Markets now owns 4,338 shares of the industrial products company’s stock worth $84,000 after purchasing an additional 2,387 shares in the last quarter. Finally, Barclays PLC increased its stake in EVI Industries by 206.6% during the 3rd quarter. Barclays PLC now owns 7,244 shares of the industrial products company’s stock worth $139,000 after buying an additional 4,881 shares during the period. 37.30% of the stock is currently owned by hedge funds and other institutional investors.

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.