ABM Industries Inc. (NYSE:ABM) Receives Consensus Recommendation of “Buy” from Brokerages

ABM Industries Inc. (NYSE:ABM) has received a consensus recommendation of “Buy” from the five research firms that are covering the company. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is C$36.00.

ABM Industries (NYSE:ABM) traded up 0.08% during mid-day trading on Wednesday, hitting $37.55. The company’s stock had a trading volume of 94,335 shares. ABM Industries has a 52-week low of $26.50 and a 52-week high of $37.85. The firm has a 50 day moving average of $36.56 and a 200-day moving average of $32.77. The firm has a market cap of $2.10 billion and a price-to-earnings ratio of 36.67.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Wednesday, June 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.04. The company had revenue of $1.26 billion for the quarter. During the same period in the previous year, the business earned $0.37 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that ABM Industries will post $1.60 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Thursday, July 7th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.76%.

ABM has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. Imperial Capital upped their price target on shares of ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, June 23rd.

In related news, insider Thomas J. Marano sold 25,725 shares of the stock in a transaction on Monday, June 13th. The stock was sold at an average price of C$36.91, for a total value of C$949,509.75. Following the completion of the sale, the insider now directly owns 15,288 shares in the company, valued at C$564,280.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott J. Giacobbe sold 5,000 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of C$36.86, for a total value of C$184,300.00. Following the completion of the sale, the insider now owns 37,807 shares of the company’s stock, valued at C$1,393,566.02. The disclosure for this sale can be found here.

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.