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

EVI Industries, Inc. (NYSEAMERICAN:EVI)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $21.09 and traded as low as $15.51. EVI Industries shares last traded at $15.91, with a volume of 26,338 shares trading hands.

Analysts Set New Price Targets

Separately, DA Davidson decreased their target price on 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 MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $32.00.

EVI Industries Stock Up 0.1%

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 has a market cap of $204.76 million, a PE ratio of 35.36 and a beta of 0.03. The company has a fifty day moving average price of $18.35 and a 200 day moving average price of $21.09.

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

Institutional Investors Weigh In On EVI Industries

Several institutional investors have recently bought and sold shares of EVI. BNP Paribas Financial Markets boosted its position in EVI Industries by 45.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,577 shares of the industrial products company’s stock valued at $50,000 after buying an additional 491 shares during the period. Empire Life Investments Inc. raised its position in shares of EVI Industries by 0.3% in the 4th quarter. Empire Life Investments Inc. now owns 168,427 shares of the industrial products company’s stock worth $4,150,000 after acquiring an additional 547 shares in the last quarter. Deutsche Bank AG lifted its position in EVI Industries by 17.5% during the fourth 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 period. Natixis Advisors LLC lifted its position in EVI Industries by 1.7% during the 3rd quarter. Natixis Advisors LLC now owns 36,518 shares of the industrial products company’s stock valued at $1,154,000 after acquiring an additional 622 shares during the period. Finally, Bard Associates Inc. lifted its position in EVI Industries by 4.5% during the 4th quarter. Bard Associates Inc. now owns 14,720 shares of the industrial products company’s stock valued at $363,000 after acquiring an additional 631 shares during the period. 37.30% of the stock is currently owned by hedge funds and other institutional investors.

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.