StockNews.com Downgrades EVI Industries (NYSEAMERICAN:EVI) to Hold

StockNews.com cut shares of EVI Industries (NYSEAMERICAN:EVI) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

EVI Industries Stock Down 3.9 %

Shares of NYSEAMERICAN:EVI opened at $16.35 on Monday. The stock has a market capitalization of $232.66 million, a price-to-earnings ratio of 32.70 and a beta of 0.35. EVI Industries has a fifty-two week low of $14.51 and a fifty-two week high of $25.50. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.15.

Institutional Trading of EVI Industries

A number of institutional investors and hedge funds have recently modified their holdings of EVI. Bank of New York Mellon Corp grew its stake in EVI Industries by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,499 shares of the industrial products company’s stock valued at $407,000 after buying an additional 1,422 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of EVI Industries by 18.7% in the second quarter. Renaissance Technologies LLC now owns 13,765 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 2,168 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of EVI Industries during the 2nd quarter worth about $158,000. Conestoga Capital Advisors LLC boosted its stake in EVI Industries by 1.3% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 775,266 shares of the industrial products company’s stock valued at $14,986,000 after purchasing an additional 9,615 shares during the period. Finally, Bard Associates Inc. acquired a new stake in EVI Industries in the 3rd quarter valued at approximately $223,000. 37.30% of the stock is currently owned by institutional investors and hedge funds.

EVI Industries Company Profile

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.