ABM Industries Incorporated (NYSE:ABM) Receives $45.20 Average PT from Analysts

ABM Industries Incorporated (NYSE:ABM) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $45.20.

Several equities analysts recently weighed in on ABM shares. Truist Financial raised their target price on shares of ABM Industries from $43.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, December 14th. StockNews.com cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd.

Insider Activity

In other ABM Industries news, CAO Dean A. Chin sold 5,465 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the transaction, the chief accounting officer now owns 19,972 shares of the company’s stock, valued at $896,543.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the transaction, the chief operating officer now owns 111,677 shares of the company’s stock, valued at $4,868,000.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the transaction, the chief accounting officer now directly owns 19,972 shares in the company, valued at approximately $896,543.08. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Institutional Trading of ABM Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of ABM. State Street Corp increased its position in ABM Industries by 19.3% in the first quarter. State Street Corp now owns 7,059,579 shares of the business services provider’s stock worth $325,023,000 after buying an additional 1,140,097 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of ABM Industries by 353.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,396,596 shares of the business services provider’s stock worth $60,641,000 after purchasing an additional 1,088,389 shares in the last quarter. Norges Bank purchased a new stake in shares of ABM Industries during the fourth quarter worth about $31,310,000. Victory Capital Management Inc. grew its position in shares of ABM Industries by 16.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,931,733 shares of the business services provider’s stock worth $85,808,000 after purchasing an additional 268,099 shares in the last quarter. Finally, FMR LLC grew its position in shares of ABM Industries by 178.7% during the second quarter. FMR LLC now owns 398,426 shares of the business services provider’s stock worth $17,300,000 after purchasing an additional 255,471 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of ABM opened at $44.62 on Friday. The company’s 50 day moving average price is $41.79 and its 200 day moving average price is $41.95. ABM Industries has a 52 week low of $37.61 and a 52 week high of $53.05. The company has a market capitalization of $2.82 billion, a PE ratio of 11.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48.

ABM Industries (NYSE:ABM) last released its earnings results on Thursday, March 7th. The business services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.72 by $0.14. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company earned $0.79 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Research analysts expect that ABM Industries will post 3.37 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be paid a $0.225 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.02%. ABM Industries’s dividend payout ratio is currently 23.02%.

About ABM Industries

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.