EVI Industries (NYSEAMERICAN:EVI) Rating Increased to Buy at StockNews.com

EVI Industries (NYSEAMERICAN:EVI) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

EVI Industries Price Performance

EVI opened at $19.61 on Friday. The stock has a market cap of $248.65 million, a price-to-earnings ratio of 53.00 and a beta of 0.34. The company has a quick ratio of 0.77, a current ratio of 1.46 and a debt-to-equity ratio of 0.09. EVI Industries has a 52 week low of $14.51 and a 52 week high of $28.65.

Hedge Funds Weigh In On EVI Industries

A number of large investors have recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in EVI Industries during the 2nd quarter valued at $29,000. American International Group Inc. grew its holdings in shares of EVI Industries by 35.6% in the first 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 last quarter. BNP Paribas Financial Markets increased its stake in EVI Industries by 42.8% in the 1st 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 period. Northwestern Mutual Wealth Management Co. bought a new stake in EVI Industries during the 2nd quarter valued at about $158,000. Finally, Renaissance Technologies LLC boosted its position in EVI Industries by 18.7% in the 2nd quarter. Renaissance Technologies LLC now owns 13,765 shares of the industrial products company’s stock valued at $260,000 after buying an additional 2,168 shares during the period. 37.30% of the stock is 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.