EVI Industries (NYSEAMERICAN:EVI) Lifted to Buy at StockNews.com

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

EVI Industries Stock Up 1.5 %

Shares of EVI stock opened at $19.76 on Wednesday. EVI Industries has a 12-month low of $14.51 and a 12-month high of $27.90. The stock has a market capitalization of $250.56 million, a PE ratio of 52.00 and a beta of 0.34. The company has a current ratio of 1.46, a quick ratio of 0.77 and a debt-to-equity ratio of 0.09.

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

EVI Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Thursday, September 26th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.24 dividend on an annualized basis and a yield of 6.28%.

Institutional Investors Weigh In On EVI Industries

Several hedge funds and other institutional investors have recently made changes to their positions in EVI. BNP Paribas Financial Markets increased 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 worth $121,000 after purchasing an additional 1,454 shares during the period. Vanguard Group Inc. increased its stake in 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 purchasing an additional 23,880 shares in the last quarter. American International Group Inc. raised its stake 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 worth $80,000 after acquiring an additional 838 shares during the last quarter. Comerica Bank raised its stake 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 purchasing an additional 25,570 shares during the last quarter. Finally, Swedbank AB purchased a new position in EVI Industries during the 1st quarter worth approximately $9,338,000. Hedge funds and other institutional investors own 37.30% of the company’s stock.

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.