EVI Industries (NYSEAMERICAN:EVI) Stock Passes Above 200 Day Moving Average – Should You Sell?

EVI Industries, Inc. (NYSEAMERICAN:EVI) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.52 and traded as high as $26.14. EVI Industries shares last traded at $25.50, with a volume of 6,533 shares trading hands.

Analyst Upgrades and Downgrades

Separately, DA Davidson reissued a “buy” rating and issued a $40.00 target price on shares of EVI Industries in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.00.

EVI Industries Stock Down 2.0%

The company has a 50-day moving average price of $23.49 and a 200 day moving average price of $25.52. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.41 and a quick ratio of 0.74. The firm has a market capitalization of $367.46 million and a PE ratio of 65.39.

EVI Industries (NYSEAMERICAN:EVI) last issued its quarterly earnings data on Monday, November 10th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). EVI Industries had a return on equity of 4.35% and a net margin of 1.51%.The firm had revenue of $108.27 million for the quarter, compared to analysts’ expectations of $109.10 million.

Hedge Funds Weigh In On EVI Industries

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in EVI Industries by 39.6% during the fourth quarter. Bank of America Corp DE now owns 4,988 shares of the industrial products company’s stock valued at $82,000 after purchasing an additional 1,416 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of EVI Industries by 27.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,814 shares of the industrial products company’s stock valued at $64,000 after buying an additional 829 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of EVI Industries by 21.4% in the first quarter. Rhumbline Advisers now owns 5,336 shares of the industrial products company’s stock valued at $90,000 after purchasing an additional 940 shares during the period. Hilltop National Bank purchased a new position in EVI Industries during the 2nd quarter worth approximately $90,000. Finally, Conestoga Capital Advisors LLC increased its stake in shares of EVI Industries by 2.7% in the second quarter. Conestoga Capital Advisors LLC now owns 833,551 shares of the industrial products company’s stock worth $18,196,000 after acquiring an additional 21,891 shares during the period. 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. It offers washroom equipment, such as washers and dryers, tunnel systems, and vended machines; finishing equipment comprising sheet feeders, flatwork ironers, automatic sheet folders, and stackers; and material handling equipment, including conveyor and rail systems.