EVI Industries (NYSEAMERICAN:EVI) Stock Crosses Below 200-Day Moving Average – Should You Sell?
by Amy Steele · The Cerbat GemEVI Industries, Inc. (NYSEAMERICAN:EVI – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.27 and traded as low as $19.75. EVI Industries shares last traded at $19.99, with a volume of 28,155 shares.
Analyst Upgrades and Downgrades
Separately, DA Davidson reiterated a “buy” rating and issued a $35.00 price objective on shares of EVI Industries in a report on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, EVI Industries has an average rating of “Buy” and an average target price of $35.00.
Read Our Latest Research Report on EVI
EVI Industries Trading Down 0.3%
The company has a debt-to-equity ratio of 0.40, a current ratio of 1.58 and a quick ratio of 0.77. The business has a 50-day moving average of $20.54 and a 200-day moving average of $23.19. The firm has a market cap of $256.43 million, a price-to-earnings ratio of 42.43 and a beta of 0.11.
EVI Industries (NYSEAMERICAN:EVI – Get Free Report) last issued its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). The company had revenue of $115.29 million for the quarter, compared to analyst estimates of $108.00 million. EVI Industries had a net margin of 1.72% and a return on equity of 5.18%.
Hedge Funds Weigh In On EVI Industries
A number of institutional investors have recently added to or reduced their stakes in EVI. Royce & Associates LP raised its holdings in shares of EVI Industries by 9.9% in the 3rd quarter. Royce & Associates LP now owns 808,145 shares of the industrial products company’s stock valued at $25,545,000 after purchasing an additional 73,019 shares during the period. Ritholtz Wealth Management bought a new position in EVI Industries during the third quarter worth about $739,000. King Luther Capital Management Corp grew its holdings in EVI Industries by 4.2% during the third quarter. King Luther Capital Management Corp now owns 219,443 shares of the industrial products company’s stock worth $6,937,000 after purchasing an additional 8,943 shares during the period. J.W. Cole Advisors Inc. acquired a new position in EVI Industries during the third quarter worth approximately $213,000. Finally, Bard Associates Inc. increased its position in EVI Industries by 4.5% during the fourth quarter. Bard Associates Inc. now owns 14,720 shares of the industrial products company’s stock worth $363,000 after buying an additional 631 shares during the last quarter. 37.30% of the stock is currently owned by institutional investors and hedge funds.
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. It offers washroom equipment, such as washers and dryers, tunnel systems, and vended machines; finishing equipment comprising sheet feeders, flatwork ironers, automatic sheet folders, and stackers; and material handling equipment, including conveyor and rail systems.