EVI Industries (NYSEAMERICAN:EVI) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of EVI Industries (NYSEAMERICAN:EVI) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

EVI Industries Trading Down 6.3 %

Shares of EVI Industries stock opened at $20.40 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.46 and a quick ratio of 0.77. EVI Industries has a fifty-two week low of $14.51 and a fifty-two week high of $27.00. The stock has a market capitalization of $259.69 million, a price-to-earnings ratio of 53.68 and a beta of 0.34.

EVI Industries (NYSEAMERICAN:EVI) last posted its quarterly earnings data on Thursday, September 12th. The industrial products company reported $0.14 EPS for the quarter. EVI Industries had a return on equity of 4.22% and a net margin of 1.60%. The business had revenue of $90.15 million during the quarter.

EVI Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Thursday, September 26th were issued a $0.31 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $1.24 dividend on an annualized basis and a yield of 6.08%.

Institutional Trading of EVI Industries

Several large investors have recently bought and sold shares of EVI. Swedbank AB purchased a new stake in EVI Industries in the 1st quarter valued at $9,338,000. Conestoga Capital Advisors LLC increased its position in EVI Industries by 18.3% during the second quarter. Conestoga Capital Advisors LLC now owns 765,651 shares of the industrial products company’s stock worth $14,486,000 after purchasing an additional 118,490 shares during the last quarter. Comerica Bank increased its position in EVI Industries by 53.8% during the first quarter. Comerica Bank now owns 73,095 shares of the industrial products company’s stock worth $1,820,000 after purchasing an additional 25,570 shares during the last quarter. Vanguard Group Inc. raised its stake in EVI Industries by 9.0% during the first quarter. Vanguard Group Inc. now owns 290,501 shares of the industrial products company’s stock worth $7,233,000 after purchasing an additional 23,880 shares during the period. Finally, Bard Associates Inc. acquired a new position in EVI Industries in the 3rd quarter valued at about $223,000. Hedge funds and other institutional investors own 37.30% of the company’s stock.

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.