ABM Industries Inc. (NYSE:ABM) Receives Consensus Recommendation of “Buy” from Analysts
Shares of ABM Industries Inc. (NYSE:ABM) have received an average rating of “Buy” from the five analysts that are presently covering the company. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$42.33.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded ABM Industries from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Friday, September 9th. Robert W. Baird reiterated an “outperform” rating and set a $44.00 price target on shares of ABM Industries in a report on Saturday, September 10th. Finally, Imperial Capital upped their price target on ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, June 23rd.
Shares of ABM Industries (NYSE:ABM) traded down 1.89% during trading on Tuesday, hitting $39.12. 120,818 shares of the stock traded hands. The firm’s 50-day moving average price is $38.84 and its 200-day moving average price is $35.64. ABM Industries has a 52 week low of $26.50 and a 52 week high of $40.47. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 25.30 and a beta of 0.75.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The firm earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The company’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, equities research analysts anticipate that ABM Industries will post $1.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Thursday, October 6th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.65%. ABM Industries’s payout ratio is 42.58%.
In related news, insider Scott J. Giacobbe sold 13,700 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of C$39.33, for a total value of C$538,821.00. Following the completion of the transaction, the insider now directly owns 33,383 shares in the company, valued at C$1,312,953.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maryellen C. Herringer sold 1,854 shares of the company’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of C$36.83, for a total value of C$68,282.82. Following the completion of the transaction, the director now owns 156,777 shares of the company’s stock, valued at C$5,774,096.91. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. A.R.T. Advisors LLC raised its position in shares of ABM Industries by 1.4% in the second quarter. A.R.T. Advisors LLC now owns 7,117 shares of the company’s stock worth $259,000 after buying an additional 100 shares during the last quarter. Anchor Capital Advisors LLC raised its position in shares of ABM Industries by 0.6% in the second quarter. Anchor Capital Advisors LLC now owns 37,704 shares of the company’s stock worth $1,375,000 after buying an additional 239 shares during the last quarter. PineBridge Investments L.P. raised its position in shares of ABM Industries by 4.1% in the second quarter. PineBridge Investments L.P. now owns 7,113 shares of the company’s stock worth $259,000 after buying an additional 278 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of ABM Industries by 3.6% in the second quarter. Public Employees Retirement System of Ohio now owns 8,207 shares of the company’s stock worth $299,000 after buying an additional 289 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of ABM Industries by 1.7% in the second quarter. Arizona State Retirement System now owns 29,138 shares of the company’s stock worth $1,063,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 90.56% of the company’s stock.
ABM Industries Company Profile
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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