ABM Industries Inc. (ABM) Rating Lowered to Neutral at Sidoti
ABM Industries Inc. (NYSE:ABM) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a research note issued on Wednesday.
Several other equities analysts have also commented on ABM. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird reissued an “outperform” rating and set a $44.00 price target on shares of ABM Industries in a research report on Saturday, September 10th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. ABM Industries has an average rating of “Hold” and an average price target of C$42.33.
Shares of ABM Industries (NYSE:ABM) opened at 43.01 on Wednesday. The stock’s 50 day moving average price is $39.22 and its 200 day moving average price is $37.20. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 27.82 and a beta of 0.79. ABM Industries has a 12 month low of $26.50 and a 12 month high of $43.71.
ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, September 7th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.14. The firm earned $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. Equities research analysts predict that ABM Industries will post $1.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Thursday, October 6th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Tuesday, October 4th. ABM Industries’s dividend payout ratio (DPR) is presently 42.58%.
In other news, insider Scott J. Giacobbe sold 13,700 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 33,383 shares of the company’s stock, valued at C$1,312,953.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Diego Anthony Scaglione sold 700 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of C$42.50, for a total value of C$29,750.00. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Several large investors have recently modified their holdings of ABM. Creative Planning increased its stake in shares of ABM Industries by 3.7% in the second quarter. Creative Planning now owns 14,310 shares of the company’s stock valued at $522,000 after buying an additional 510 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of ABM Industries by 33.0% in the second quarter. JPMorgan Chase & Co. now owns 508,481 shares of the company’s stock valued at $18,550,000 after buying an additional 126,094 shares during the last quarter. Aberdeen Asset Management PLC UK increased its stake in shares of ABM Industries by 85.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 467,016 shares of the company’s stock valued at $17,036,000 after buying an additional 214,644 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of ABM Industries during the second quarter valued at $3,041,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of ABM Industries by 35.2% in the first quarter. UBS Asset Management Americas Inc. now owns 107,670 shares of the company’s stock valued at $3,478,000 after buying an additional 28,022 shares during the last quarter. 90.60% of the stock is owned by institutional investors.
About ABM Industries
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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