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.

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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.

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