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

StockNews.com upgraded shares of EVI Industries (NYSEAMERICAN:EVI) from a hold rating to a buy rating in a research report released on Friday.

EVI Industries Stock Performance

EVI stock opened at $19.15 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $242.82 million, a P/E ratio of 50.39 and a beta of 0.34. EVI Industries has a 12-month low of $14.51 and a 12-month high of $28.65.

EVI Industries (NYSEAMERICAN:EVI) last announced its earnings results on Thursday, September 12th. The industrial products company reported $0.14 EPS for the quarter. EVI Industries had a return on equity of 4.22% and a net margin of 1.60%. The company had revenue of $90.15 million for the quarter.

EVI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Thursday, September 26th were paid a $0.31 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.24 annualized dividend and a dividend yield of 6.48%.

Institutional Investors Weigh In On EVI Industries

Several hedge funds and other institutional investors have recently bought and sold shares of EVI. Gladius Capital Management LP acquired a new stake in shares of EVI Industries in the 2nd quarter valued at about $29,000. American International Group Inc. raised its stake in 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 worth $80,000 after buying an additional 838 shares during the period. BNP Paribas Financial Markets grew its stake in EVI Industries by 42.8% in the first quarter. BNP Paribas Financial Markets now owns 4,850 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 1,454 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in shares of EVI Industries during the second quarter valued at approximately $158,000. Finally, Renaissance Technologies LLC increased its holdings in shares of EVI Industries by 18.7% during the second quarter. Renaissance Technologies LLC now owns 13,765 shares of the industrial products company’s stock valued at $260,000 after acquiring an additional 2,168 shares in the last quarter. 37.30% of the stock is owned by 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.