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

StockNews.com cut shares of EVI Industries (NYSEAMERICAN:EVI) from a buy rating to a hold rating in a research note published on Monday morning.

EVI Industries Price Performance

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

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

EVI Industries Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in EVI. American International Group Inc. boosted its stake in EVI Industries by 35.6% during the 1st quarter. American International Group Inc. now owns 3,195 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 838 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of EVI Industries by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 21,499 shares of the industrial products company’s stock worth $407,000 after buying an additional 1,422 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of EVI Industries by 42.8% during the first quarter. BNP Paribas Financial Markets now owns 4,850 shares of the industrial products company’s stock worth $121,000 after buying an additional 1,454 shares during the last quarter. Natixis Advisors LLC increased its position in EVI Industries by 4.6% in the 3rd quarter. Natixis Advisors LLC now owns 33,726 shares of the industrial products company’s stock valued at $652,000 after acquiring an additional 1,485 shares during the period. Finally, Gladius Capital Management LP purchased a new stake in EVI Industries during the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors 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.