ABM Industries Incorporated (ABM) Upgraded to “Overweight” at KeyCorp
KeyCorp upgraded shares of ABM Industries Incorporated (NYSE:ABM) from a sector weight rating to an overweight rating in a report released on Monday. KeyCorp currently has $48.00 target price on the business services provider’s stock.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded ABM Industries from a hold rating to a buy rating and set a $48.00 target price on the stock in a report on Monday, July 17th. Robert W. Baird set a $50.00 target price on ABM Industries and gave the company a buy rating in a report on Wednesday, May 31st. BidaskClub upgraded ABM Industries from a buy rating to a strong-buy rating in a report on Saturday, August 26th. Finally, Sidoti upgraded ABM Industries from a neutral rating to a buy rating and increased their target price for the company from $49.00 to $55.00 in a report on Thursday, July 13th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $48.20.
ABM Industries (NYSE ABM) opened at 40.97 on Monday. The stock has a market cap of $2.28 billion, a P/E ratio of 182.09 and a beta of 0.79. ABM Industries has a 12 month low of $37.12 and a 12 month high of $45.12. The company’s 50-day moving average price is $43.88 and its 200-day moving average price is $42.82.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, September 6th. The business services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. ABM Industries had a net margin of 0.29% and a return on equity of 11.37%. ABM Industries’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS. Equities analysts forecast that ABM Industries will post $1.90 earnings per share for the current year.
WARNING: This piece was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/09/12/abm-industries-incorporated-abm-upgraded-to-overweight-at-keycorp.html.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Thursday, October 5th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Wednesday, October 4th. ABM Industries’s dividend payout ratio is presently 251.86%.
In other ABM Industries news, insider James P. Mcclure sold 1,970 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $40.87, for a total transaction of $80,513.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rene Jacobsen sold 940 shares of the stock in a transaction on 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 directly owns 22,729 shares in the company, valued at approximately $930,070.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,005 shares of company stock worth $257,123. Corporate insiders own 1.30% of the company’s stock.
Several institutional investors have recently modified their holdings of ABM. Bank of Montreal Can lifted its stake in shares of ABM Industries by 14.0% during the 1st quarter. Bank of Montreal Can now owns 7,576 shares of the business services provider’s stock worth $331,000 after purchasing an additional 931 shares during the period. Glen Harbor Capital Management LLC lifted its stake in shares of ABM Industries by 2.5% during the 1st quarter. Glen Harbor Capital Management LLC now owns 4,250 shares of the business services provider’s stock worth $185,000 after purchasing an additional 102 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of ABM Industries by 5.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 77,961 shares of the business services provider’s stock worth $3,397,000 after purchasing an additional 4,342 shares during the period. Eqis Capital Management Inc. purchased a new position in shares of ABM Industries during the 1st quarter worth $240,000. Finally, First Trust Advisors LP lifted its stake in shares of ABM Industries by 25.8% during the 1st quarter. First Trust Advisors LP now owns 23,075 shares of the business services provider’s stock worth $1,006,000 after purchasing an additional 4,734 shares during the period. 91.49% of the stock is currently owned by 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.
Receive News & Stock Ratings for ABM Industries Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries Incorporated and related stocks with our FREE daily email newsletter.