Shares of ABM Industries Incorporated (NYSE:ABM) have received an average recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $48.25.

A number of equities research analysts have weighed in on the stock. BidaskClub raised shares of ABM Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Robert W. Baird set a $47.00 price target on shares of ABM Industries and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, KeyCorp raised shares of ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price target for the company in a report on Monday, September 11th.

In other ABM Industries news, insider Scott J. Giacobbe sold 11,094 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $39.92, for a total transaction of $442,872.48. Following the completion of the sale, the insider now directly owns 59,152 shares of the company’s stock, valued at $2,361,347.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Dean A. Chin sold 880 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $42.90, for a total transaction of $37,752.00. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gofen & Glossberg LLC IL acquired a new position in ABM Industries in the third quarter worth approximately $200,000. Independent Advisor Alliance increased its holdings in ABM Industries by 14.4% in the third quarter. Independent Advisor Alliance now owns 14,697 shares of the business services provider’s stock worth $629,000 after buying an additional 1,852 shares during the last quarter. California Public Employees Retirement System increased its holdings in ABM Industries by 8.1% in the third quarter. California Public Employees Retirement System now owns 91,017 shares of the business services provider’s stock worth $3,796,000 after buying an additional 6,817 shares during the last quarter. Magnetar Financial LLC acquired a new position in ABM Industries in the third quarter worth approximately $427,000. Finally, Allianz Asset Management GmbH increased its holdings in ABM Industries by 1,354.9% in the third quarter. Allianz Asset Management GmbH now owns 301,971 shares of the business services provider’s stock worth $12,595,000 after buying an additional 281,216 shares during the last quarter. 86.58% of the stock is owned by institutional investors and hedge funds.

ABM Industries (ABM) opened at $41.09 on Friday. The stock has a market cap of $2,680.00, a PE ratio of 21.66 and a beta of 0.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.52 and a quick ratio of 1.52. ABM Industries has a 12-month low of $37.12 and a 12-month high of $45.12.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, September 6th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.03). The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. ABM Industries had a net margin of 0.29% and a return on equity of 11.37%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. equities analysts forecast that ABM Industries will post 1.85 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Thursday, October 5th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, October 4th. ABM Industries’s payout ratio is 42.77%.

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ABM Industries Company Profile

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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