EVI Industries (NYSEAMERICAN:EVI) Rating Lowered to Hold at StockNews.com

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

EVI Industries Stock Down 0.2 %

Shares of NYSEAMERICAN EVI traded down $0.05 during trading on Tuesday, hitting $20.24. The company had a trading volume of 5,818 shares, compared to its average volume of 16,513. EVI Industries has a fifty-two week low of $14.51 and a fifty-two week high of $27.90. The firm has a market cap of $256.64 million, a price-to-earnings ratio of 53.26 and a beta of 0.34. The company has a quick ratio of 0.77, a current ratio of 1.46 and a debt-to-equity ratio of 0.09.

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

Hedge Funds Weigh In On EVI Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new position in EVI Industries during the second quarter worth about $29,000. American International Group Inc. boosted its holdings in EVI Industries by 35.6% in the 1st quarter. American International Group Inc. now owns 3,195 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 838 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in EVI Industries by 42.8% in the 1st quarter. BNP Paribas Financial Markets now owns 4,850 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 1,454 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in EVI Industries in the 2nd quarter valued at about $158,000. Finally, Renaissance Technologies LLC boosted its holdings in EVI Industries by 18.7% in the 2nd quarter. Renaissance Technologies LLC now owns 13,765 shares of the industrial products company’s stock valued at $260,000 after purchasing an additional 2,168 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.