EVI Industries (NYSEAMERICAN:EVI) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of EVI Industries, Inc. (NYSEAMERICAN:EVI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $17.36 and traded as high as $18.29. EVI Industries shares last traded at $17.66, with a volume of 84,998 shares.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reaffirmed a “buy” rating and set a $32.00 target price on shares of EVI Industries in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, EVI Industries has a consensus rating of “Buy” and a consensus price target of $32.00.

EVI Industries Stock Up 2.5%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.87 and a current ratio of 1.64. The company has a market cap of $233.26 million, a price-to-earnings ratio of 37.73 and a beta of 0.09. The stock’s fifty day moving average is $15.11 and its two-hundred day moving average is $17.37.

EVI Industries (NYSEAMERICAN:EVI) last released its quarterly earnings results on Tuesday, September 8th. The industrial products company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $121.87 million during the quarter, compared to the consensus estimate of $117.10 million. EVI Industries had a return on equity of 5.31% and a net margin of 1.73%.

Hedge Funds Weigh In On EVI Industries

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of EVI Industries in the 2nd quarter worth approximately $5,217,000. Fifth Third Bancorp purchased a new stake in shares of EVI Industries during the first quarter valued at approximately $3,102,000. Aristides Capital LLC purchased a new stake in shares of EVI Industries during the first quarter valued at approximately $862,000. Royce & Associates LP lifted its holdings in EVI Industries by 4.5% during the fourth quarter. Royce & Associates LP now owns 844,417 shares of the industrial products company’s stock worth $20,806,000 after acquiring an additional 36,272 shares during the period. Finally, Sei Investments Co. lifted its holdings in EVI Industries by 59.3% during the first quarter. Sei Investments Co. now owns 66,096 shares of the industrial products company’s stock worth $1,360,000 after acquiring an additional 24,613 shares during the period. 37.30% of the stock is currently owned by institutional investors.

About EVI Industries

EVI Industries, Inc is a distributor of commercial and industrial equipment and related services. The company primarily serves the textile-care industry, supplying commercial laundry and dry-cleaning equipment such as washers, dryers, finishing systems, ironers, folders and garment-care equipment.

In addition to equipment sales, EVI provides installation, maintenance, repair, technical support, replacement parts and operating supplies. Its customers include businesses and institutions in the hospitality, health care, correctional, retail laundry, dry-cleaning and other textile-service markets.

Headquartered in Miami, Florida, EVI serves customers through a network of operating companies and distribution locations in the United States and selected international markets.