Truist Financial Raises ABM Industries (NYSE:ABM) Price Target to $55.00

ABM Industries (NYSE:ABM) had its price objective lifted by research analysts at Truist Financial from $49.00 to $55.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the business services provider’s stock. Truist Financial’s price target indicates a potential upside of 8.42% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Robert W. Baird upped their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Monday. UBS Group boosted their price target on ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Finally, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $52.50.

ABM Industries Trading Down 1.1 %

Shares of ABM stock traded down $0.56 on Monday, reaching $50.73. The company had a trading volume of 26,821 shares, compared to its average volume of 554,419. The stock has a market cap of $3.18 billion, a PE ratio of 13.38 and a beta of 1.14. The company has a 50-day moving average of $53.53 and a 200-day moving average of $48.29. The company has a current ratio of 1.38, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. ABM Industries has a 12 month low of $38.48 and a 12 month high of $59.78.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. ABM Industries’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.79 EPS. On average, equities analysts forecast that ABM Industries will post 3.49 earnings per share for the current year.

Insiders Place Their Bets

In other ABM Industries news, CEO Scott B. Salmirs sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the transaction, the chief executive officer now owns 378,391 shares in the company, valued at $18,503,319.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total value of $1,222,500.00. Following the completion of the sale, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Rene Jacobsen sold 40,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the transaction, the chief operating officer now owns 72,062 shares in the company, valued at $3,723,443.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,778 shares of company stock worth $4,039,248. 1.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ABM Industries

Institutional investors have recently made changes to their positions in the stock. BOKF NA bought a new stake in shares of ABM Industries during the 2nd quarter valued at about $30,000. Adirondack Trust Co. grew its stake in ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after buying an additional 500 shares in the last quarter. GAMMA Investing LLC raised its position in shares of ABM Industries by 37.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after buying an additional 273 shares in the last quarter. Lazard Asset Management LLC increased its stake in ABM Industries by 2,102.0% in the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,030 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new stake in ABM Industries during the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Company Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.