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

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

EVI Industries Stock Performance

Shares of EVI opened at $18.05 on Wednesday. The company has a 50 day simple moving average of $17.23. EVI Industries has a 52-week low of $14.51 and a 52-week high of $22.04. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.58 and a quick ratio of 0.87. The firm has a market cap of $230.32 million, a price-to-earnings ratio of 37.60 and a beta of 0.40.

Institutional Trading of EVI Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Corebridge Financial Inc. lifted its position in shares of EVI Industries by 24.9% in the first quarter. Corebridge Financial Inc. now owns 3,206 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 639 shares in the last quarter. Comerica Bank increased its stake in EVI Industries by 11.6% in the 1st quarter. Comerica Bank now owns 90,745 shares of the industrial products company’s stock valued at $1,523,000 after buying an additional 9,420 shares during the last quarter. SVB Wealth LLC bought a new stake in EVI Industries during the 1st quarter worth about $25,000. Raymond James Financial Inc. lifted its position in EVI Industries by 4.7% during the 1st quarter. Raymond James Financial Inc. now owns 183,437 shares of the industrial products company’s stock worth $3,078,000 after buying an additional 8,316 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of EVI Industries by 5,337.1% during the 1st quarter. Russell Investments Group Ltd. now owns 3,371 shares of the industrial products company’s stock worth $57,000 after buying an additional 3,309 shares during the last quarter. Institutional investors and hedge funds own 37.30% of the company’s stock.

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.