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

EVI Industries, Inc. (NYSEAMERICAN:EVI) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.44 and traded as low as $16.90. EVI Industries shares last traded at $17.23, with a volume of 61,090 shares.

Wall Street Analysts Forecast Growth

Separately, DA Davidson decreased their price objective on shares of EVI Industries from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $32.00.

EVI Industries Stock Performance

The company has a market capitalization of $226.90 million, a price-to-earnings ratio of 39.18 and a beta of 0.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.60 and a quick ratio of 0.76. The company’s 50-day moving average price is $19.41 and its two-hundred day moving average price is $21.39.

EVI Industries (NYSEAMERICAN:EVI) last announced its quarterly earnings data on Monday, May 11th. The industrial products company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.11). The company had revenue of $101.13 million for the quarter, compared to analyst estimates of $111.30 million. EVI Industries had a return on equity of 4.92% and a net margin of 1.63%.

Institutional Trading of EVI Industries

Several large investors have recently modified their holdings of EVI. Northwestern Mutual Wealth Management Co. grew its position in shares of EVI Industries by 30,492.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,212,392 shares of the industrial products company’s stock worth $29,873,000 after buying an additional 1,208,429 shares during the period. Fifth Third Bancorp acquired a new stake in shares of EVI Industries during the 1st quarter worth approximately $3,102,000. Royce & Associates LP grew its position in shares of EVI Industries by 9.9% during the 3rd quarter. Royce & Associates LP now owns 808,145 shares of the industrial products company’s stock worth $25,545,000 after buying an additional 73,019 shares during the period. Conestoga Capital Advisors LLC grew its position in shares of EVI Industries by 8.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 872,555 shares of the industrial products company’s stock worth $21,500,000 after buying an additional 65,885 shares during the period. Finally, Comerica Bank grew its position in shares of EVI Industries by 66.1% during the 4th quarter. Comerica Bank now owns 150,710 shares of the industrial products company’s stock worth $3,713,000 after buying an additional 59,965 shares during the period. 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. 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.