DA Davidson Reaffirms “Buy” Rating for EVI Industries (NYSEAMERICAN:EVI)

EVI Industries (NYSEAMERICAN:EVI)‘s stock had its “buy” rating reaffirmed by equities researchers at DA Davidson in a research note issued on Wednesday,Benzinga reports. They currently have a $35.00 target price on the industrial products company’s stock. DA Davidson’s target price would suggest a potential upside of 66.19% from the company’s current price.

EVI Industries Trading Down 5.2%

NYSEAMERICAN EVI opened at $21.06 on Wednesday. The stock has a market cap of $270.83 million, a P/E ratio of 44.81 and a beta of 0.04. The stock’s fifty day moving average price is $24.40 and its 200-day moving average price is $25.52. EVI Industries has a 12 month low of $14.99 and a 12 month high of $34.82. The company has a current ratio of 1.58, a quick ratio of 0.74 and a debt-to-equity ratio of 0.40.

EVI Industries (NYSEAMERICAN:EVI) last released its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The firm had revenue of $115.29 million for the quarter, compared to the consensus estimate of $108.00 million. EVI Industries had a net margin of 1.72% and a return on equity of 5.18%.

Hedge Funds Weigh In On EVI Industries

A number of hedge funds have recently bought and sold shares of EVI. Renaissance Technologies LLC boosted its holdings in shares of EVI Industries by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 16,697 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 700 shares during the last quarter. Dimensional Fund Advisors LP grew its position in EVI Industries by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 107,563 shares of the industrial products company’s stock worth $2,652,000 after purchasing an additional 3,183 shares during the period. Deutsche Bank AG raised its stake in EVI Industries by 17.5% during the 4th quarter. Deutsche Bank AG now owns 4,017 shares of the industrial products company’s stock valued at $99,000 after buying an additional 597 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of EVI Industries by 42.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 36,219 shares of the industrial products company’s stock valued at $892,000 after buying an additional 10,748 shares during the period. Finally, King Luther Capital Management Corp boosted its stake in shares of EVI Industries by 5.0% in the 4th quarter. King Luther Capital Management Corp now owns 230,500 shares of the industrial products company’s stock worth $5,680,000 after buying an additional 11,057 shares during the last quarter. Hedge funds and other institutional investors 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. 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.