EVI Industries (NYSEAMERICAN:EVI) Upgraded to Buy by 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 Performance

NYSEAMERICAN:EVI opened at $19.46 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.77 and a current ratio of 1.46. EVI Industries has a 52 week low of $14.51 and a 52 week high of $27.90. The stock has a market cap of $246.75 million, a PE ratio of 51.21 and a beta of 0.34.

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

EVI Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 6.37%. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Trading of EVI Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of 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. Vanguard Group Inc. lifted its position in EVI Industries by 9.0% in the first quarter. Vanguard Group Inc. now owns 290,501 shares of the industrial products company’s stock valued at $7,233,000 after buying an additional 23,880 shares during the last quarter. American International Group Inc. lifted its position in EVI Industries by 35.6% in the first quarter. American International Group Inc. now owns 3,195 shares of the industrial products company’s stock valued at $80,000 after buying an additional 838 shares during the last quarter. Comerica Bank boosted its stake in EVI Industries by 53.8% during 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 period. Finally, Swedbank AB acquired a new stake in shares of EVI Industries during the first quarter valued at about $9,338,000. Institutional investors and hedge funds 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.