Robert W. Baird Reaffirms Outperform Rating for ABM Industries Incorporated (NYSE:ABM)
Robert W. Baird reiterated their outperform rating on shares of ABM Industries Incorporated (NYSE:ABM) in a research report sent to investors on Thursday, July 13th. They currently have a $47.00 price objective on the business services provider’s stock, down from their previous price objective of $49.00.
A number of other research analysts have also commented on ABM. Zacks Investment Research lowered ABM Industries from a buy rating to a hold rating in a report on Tuesday, May 9th. Sidoti raised ABM Industries from a neutral rating to a buy rating and upped their price objective for the company from $49.00 to $55.00 in a report on Thursday, July 13th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. ABM Industries currently has an average rating of Buy and a consensus price target of $48.25.
Shares of ABM Industries (NYSE ABM) opened at 44.51 on Thursday. ABM Industries has a 52 week low of $36.97 and a 52 week high of $45.12. The company has a 50 day moving average of $42.72 and a 200 day moving average of $42.22. The firm has a market cap of $2.48 billion, a PE ratio of 197.82 and a beta of 0.80.
ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, June 7th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts anticipate that ABM Industries will post $1.95 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Thursday, July 6th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.68 annualized dividend and a yield of 1.53%. ABM Industries’s dividend payout ratio is presently 283.33%.
In other news, insider James P. Mcclure sold 1,963 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $44.44, for a total transaction of $87,235.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rene Jacobsen sold 940 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $40.92, for a total value of $38,464.80. Following the transaction, the insider now owns 22,729 shares of the company’s stock, valued at $930,070.68. The disclosure for this sale can be found here. Insiders sold 9,763 shares of company stock valued at $418,864 over the last quarter. Corporate insiders own 1.30% of the company’s stock.
A number of large investors have recently made changes to their positions in ABM. Russell Investments Group Ltd. purchased a new stake in shares of ABM Industries during the fourth quarter worth approximately $441,000. State Street Corp boosted its stake in shares of ABM Industries by 10.0% in the fourth quarter. State Street Corp now owns 1,311,287 shares of the business services provider’s stock worth $53,552,000 after buying an additional 119,019 shares during the period. FMR LLC purchased a new stake in shares of ABM Industries during the fourth quarter worth approximately $19,696,000. AQR Capital Management LLC boosted its stake in shares of ABM Industries by 1.4% in the fourth quarter. AQR Capital Management LLC now owns 55,700 shares of the business services provider’s stock worth $2,275,000 after buying an additional 750 shares during the period. Finally, Norges Bank purchased a new stake in shares of ABM Industries during the fourth quarter worth approximately $26,617,000. 93.28% of the stock is owned by hedge funds and other institutional investors.
About ABM Industries
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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