ABM Industries Incorporated (NYSE:ABM) Receives $48.25 Average Target Price from Analysts

Shares of ABM Industries Incorporated (NYSE:ABM) have received a consensus rating of “Buy” from the six research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $52.25.

A number of equities analysts recently issued reports on the company. TheStreet upgraded ABM Industries from a “c+” rating to a “b” rating in a report on Tuesday, March 9th. KeyCorp upped their target price on ABM Industries from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Finally, Zacks Investment Research cut ABM Industries from a “buy” rating to a “hold” rating and set a $56.00 target price for the company. in a report on Tuesday, May 11th.

In other news, EVP Andrea R. Newborn sold 7,807 shares of the business’s stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $53.05, for a total value of $414,161.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of the business’s stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $53.03, for a total value of $1,325,750.00. The disclosure for this sale can be found here. Insiders sold a total of 47,372 shares of company stock valued at $2,504,283 over the last quarter. Company insiders own 0.34% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of ABM Industries by 9.3% in the 1st quarter. BlackRock Inc. now owns 11,255,404 shares of the business services provider’s stock worth $574,138,000 after acquiring an additional 961,135 shares in the last quarter. Victory Capital Management Inc. increased its position in ABM Industries by 17.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,874,433 shares of the business services provider’s stock valued at $70,929,000 after buying an additional 275,945 shares in the last quarter. Boston Partners increased its position in ABM Industries by 8.4% during the 1st quarter. Boston Partners now owns 1,604,128 shares of the business services provider’s stock valued at $82,341,000 after buying an additional 124,046 shares in the last quarter. Vulcan Value Partners LLC increased its position in ABM Industries by 15.8% during the 1st quarter. Vulcan Value Partners LLC now owns 1,421,791 shares of the business services provider’s stock valued at $72,526,000 after buying an additional 193,693 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in ABM Industries by 4.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,119,402 shares of the business services provider’s stock valued at $57,101,000 after buying an additional 43,002 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

ABM traded down $0.57 during trading hours on Monday, reaching $52.88. 202,673 shares of the company’s stock traded hands, compared to its average volume of 390,513. The firm has a 50-day moving average price of $52.40 and a 200 day moving average price of $44.08. ABM Industries has a 52-week low of $30.41 and a 52-week high of $55.48. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $3.55 billion, a PE ratio of -2,642.68 and a beta of 1.25.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Monday, March 8th. The business services provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.40. ABM Industries had a return on equity of 11.07% and a net margin of 0.01%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the business earned $0.39 EPS. ABM Industries’s revenue was down 7.5% compared to the same quarter last year. Equities analysts predict that ABM Industries will post 2.43 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 3rd. Shareholders of record on Thursday, April 1st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 31st. ABM Industries’s dividend payout ratio is 31.28%.

ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

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