EVI Industries (NYSEAMERICAN:EVI) Rating Lowered to Hold at StockNews.com

EVI Industries (NYSEAMERICAN:EVI) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

EVI Industries Price Performance

Shares of NYSEAMERICAN:EVI traded down $0.17 during midday trading on Monday, reaching $17.01. 14,450 shares of the company’s stock were exchanged, compared to its average volume of 16,130. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.79 and a current ratio of 1.44. EVI Industries has a 12 month low of $14.51 and a 12 month high of $25.50. The company has a market capitalization of $242.05 million, a price-to-earnings ratio of 34.02 and a beta of 0.35.

Hedge Funds Weigh In On EVI Industries

Several hedge funds and other institutional investors have recently modified their holdings of EVI. King Luther Capital Management Corp bought a new position in EVI Industries during the 3rd quarter valued at about $694,000. Bard Associates Inc. acquired a new stake in shares of EVI Industries during the third quarter worth approximately $223,000. Conestoga Capital Advisors LLC increased its holdings in shares of EVI Industries by 1.3% during the third quarter. Conestoga Capital Advisors LLC now owns 775,266 shares of the industrial products company’s stock worth $14,986,000 after buying an additional 9,615 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of EVI Industries in the second quarter valued at approximately $158,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of EVI Industries by 112.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,341 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 5,474 shares in the last quarter. 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.