EVI Industries (NYSEAMERICAN:EVI) Issues Earnings Results, Meets Expectations

EVI Industries (NYSEAMERICAN:EVI) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.17 EPS for the quarter, hitting analysts’ consensus estimates of $0.17, FiscalAI reports. The company had revenue of $121.87 million for the quarter, compared to analysts’ expectations of $117.10 million. EVI Industries had a return on equity of 4.92% and a net margin of 1.63%.

EVI Industries Stock Performance

EVI stock opened at $13.66 on Tuesday. The firm has a market cap of $175.80 million, a PE ratio of 30.36 and a beta of 0.09. The company has a current ratio of 1.60, a quick ratio of 0.76 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $14.98 and a 200-day moving average price of $17.55. EVI Industries has a 1-year low of $12.75 and a 1-year high of $34.82.

Institutional Investors Weigh In On EVI Industries

A number of hedge funds have recently added to or reduced their stakes in EVI. Citadel Advisors LLC bought a new stake in shares of EVI Industries in the 3rd quarter valued at $465,000. Goldman Sachs Group Inc. grew its holdings in EVI Industries by 42.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 36,219 shares of the industrial products company’s stock worth $892,000 after purchasing an additional 10,748 shares during the period. Pathstone Holdings LLC raised its stake in EVI Industries by 1.4% during the 3rd quarter. Pathstone Holdings LLC now owns 49,524 shares of the industrial products company’s stock worth $1,565,000 after buying an additional 665 shares during the period. Raymond James Financial Inc. boosted its holdings in EVI Industries by 5.5% in the third quarter. Raymond James Financial Inc. now owns 190,512 shares of the industrial products company’s stock worth $6,022,000 after acquiring an additional 9,883 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in EVI Industries by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 104,380 shares of the industrial products company’s stock valued at $3,300,000 after acquiring an additional 852 shares during the period. 37.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, DA Davidson reissued a “buy” rating and issued a $32.00 price objective on shares of EVI Industries in a research note on Wednesday, July 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, EVI Industries presently has a consensus rating of “Buy” and an average target price of $32.00.

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.