Brokerages Set ABM Industries, Inc. (ABM) Price Target at $37.00

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Shares of ABM Industries, Inc. (NYSE:ABM) have received an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $37.00.

A number of analysts have recently issued reports on ABM shares. Robert W. Baird cut their price target on shares of ABM Industries from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Wednesday, December 19th. Sidoti cut their price target on shares of ABM Industries from $46.00 to $43.00 and set a “buy” rating for the company in a report on Tuesday, December 11th. TheStreet downgraded shares of ABM Industries from a “b” rating to a “c+” rating in a report on Tuesday, December 11th. CL King downgraded shares of ABM Industries from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Zacks Investment Research upgraded shares of ABM Industries from a “sell” rating to a “hold” rating in a report on Monday, December 31st.

In other ABM Industries news, Director Linda Chavez sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 9th. The shares were sold at an average price of $34.62, for a total value of $103,860.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dean A. Chin sold 3,024 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $31.20, for a total transaction of $94,348.80. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue raised its holdings in shares of ABM Industries by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 22,005 shares of the business services provider’s stock valued at $706,000 after purchasing an additional 340 shares in the last quarter. Vanguard Group Inc boosted its holdings in ABM Industries by 1.7% during the third quarter. Vanguard Group Inc now owns 7,285,916 shares of the business services provider’s stock worth $234,971,000 after buying an additional 118,365 shares in the last quarter. Marshall Wace LLP boosted its holdings in ABM Industries by 244.9% during the third quarter. Marshall Wace LLP now owns 340,291 shares of the business services provider’s stock worth $10,974,000 after buying an additional 241,635 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in ABM Industries during the third quarter worth about $5,576,000. Finally, Vanguard Group Inc. boosted its holdings in ABM Industries by 1.7% during the third quarter. Vanguard Group Inc. now owns 7,285,916 shares of the business services provider’s stock worth $234,971,000 after buying an additional 118,365 shares in the last quarter.

ABM stock opened at $34.28 on Friday. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 18.14 and a beta of 0.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.48 and a quick ratio of 1.48. ABM Industries has a 12 month low of $25.64 and a 12 month high of $40.00.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Tuesday, December 18th. The business services provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.65 billion. ABM Industries had a net margin of 1.52% and a return on equity of 8.70%. During the same quarter in the prior year, the firm earned $0.37 EPS. On average, sell-side analysts expect that ABM Industries will post 1.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 4th. Investors of record on Thursday, January 3rd will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, January 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from ABM Industries’s previous quarterly dividend of $0.18. ABM Industries’s dividend payout ratio (DPR) is presently 38.10%.

About ABM Industries

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.

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