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 report released on Tuesday morning.

EVI Industries Trading Up 0.1 %

Shares of NYSEAMERICAN:EVI opened at $19.90 on Tuesday. The firm has a market capitalization of $253.33 million, a P/E ratio of 52.18 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 has a 52-week low of $14.51 and a 52-week high of $27.90.

EVI Industries (NYSEAMERICAN:EVI) last posted its quarterly earnings data on Thursday, September 12th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter. The firm 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%.

EVI Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Thursday, September 26th were issued a $0.31 dividend. The ex-dividend date was Thursday, September 26th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.23%.

Institutional Trading of EVI Industries

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