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

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

EVI Industries Stock Down 3.3 %

EVI opened at $19.57 on Tuesday. EVI Industries has a one year low of $14.51 and a one year high of $27.90. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.46 and a quick ratio of 0.77. The company has a market cap of $248.15 million, a price-to-earnings ratio of 53.26 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 company had revenue of $90.15 million during the quarter. EVI Industries had a return on equity of 4.22% and a net margin of 1.60%.

Institutional Trading of EVI Industries

Several institutional investors have recently added to or reduced their stakes in the business. Comerica Bank boosted its holdings in shares of EVI Industries by 53.8% in the first quarter. Comerica Bank now owns 73,095 shares of the industrial products company’s stock worth $1,820,000 after buying an additional 25,570 shares during the last quarter. Raymond James & Associates grew its position in shares of EVI Industries by 2.7% during the 2nd quarter. Raymond James & Associates now owns 188,083 shares of the industrial products company’s stock valued at $3,559,000 after acquiring an additional 4,918 shares during the period. Vanguard Group Inc. grew its position in shares of EVI Industries by 9.0% during the 1st quarter. Vanguard Group Inc. now owns 290,501 shares of the industrial products company’s stock valued at $7,233,000 after acquiring an additional 23,880 shares during the period. Swedbank AB purchased a new stake in shares of EVI Industries in the 1st quarter worth $9,338,000. Finally, Gladius Capital Management LP bought a new position in EVI Industries in the 2nd quarter worth $29,000. 37.30% of the stock is currently owned by hedge funds and other institutional investors.

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.