EVI Industries (NYSEAMERICAN:EVI) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

EVI Industries, Inc. (NYSEAMERICAN:EVI) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.22 and traded as low as $24.11. EVI Industries shares last traded at $24.11, with a volume of 7,849 shares.

Analyst Upgrades and Downgrades

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

EVI Industries Price Performance

The firm has a market capitalization of $347.43 million and a P/E ratio of 61.82. The company has a current ratio of 1.41, a quick ratio of 0.74 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $23.47 and a 200-day moving average price of $25.22.

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

Hedge Funds Weigh In On EVI Industries

Large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of EVI Industries in the second quarter worth approximately $381,000. Conestoga Capital Advisors LLC grew its position in EVI Industries by 2.7% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 833,551 shares of the industrial products company’s stock valued at $18,196,000 after acquiring an additional 21,891 shares during the last quarter. King Luther Capital Management Corp increased its stake in EVI Industries by 13.5% in the second quarter. King Luther Capital Management Corp now owns 210,500 shares of the industrial products company’s stock worth $4,595,000 after purchasing an additional 25,000 shares during the period. Corebridge Financial Inc. lifted its position in shares of EVI Industries by 24.9% during 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 during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of EVI Industries by 4.7% during the first quarter. Raymond James Financial Inc. now owns 183,437 shares of the industrial products company’s stock valued at $3,078,000 after purchasing an additional 8,316 shares during the period. 37.30% of the stock is owned by hedge funds and other 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. 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.