ABM Industries (NYSE:ABM) Price Target Increased to $56.00 by Analysts at Robert W. Baird

ABM Industries (NYSE:ABM) had its price target boosted by Robert W. Baird from $49.00 to $56.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

ABM has been the topic of a number of other reports. UBS Group increased their price target on shares of ABM Industries from $45.00 to $51.00 and gave the company a neutral rating in a research report on Friday, June 7th. StockNews.com downgraded shares of ABM Industries from a buy rating to a hold rating in a research report on Friday, August 2nd.

ABM Industries Stock Performance

ABM Industries stock opened at $49.07 on Monday. The company has a market cap of $3.08 billion, a PE ratio of 12.85 and a beta of 1.14. The company’s 50-day moving average is $53.52 and its two-hundred day moving average is $48.42. 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 1 year low of $38.48 and a 1 year high of $59.78.

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

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Thursday, October 3rd will be paid a dividend of $0.225 per share. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.83%. ABM Industries’s payout ratio is 23.56%.

Insider Transactions at ABM Industries

In other news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $50.70, for a total transaction of $103,529.40. Following the transaction, the chief accounting officer now directly owns 18,493 shares of the company’s stock, valued at $937,595.10. The disclosure for this sale can be found here. Insiders sold 78,778 shares of company stock valued at $4,039,248 in the last ninety days. 1.04% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ABM Industries

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake in shares of ABM Industries by 136.5% during the 4th quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock worth $3,529,000 after acquiring an additional 45,442 shares in the last quarter. Boston Partners boosted its holdings in shares of ABM Industries by 152.2% in the 1st quarter. Boston Partners now owns 24,125 shares of the business services provider’s stock valued at $1,076,000 after buying an additional 14,560 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of ABM Industries by 203.0% in the 4th quarter. Quadrature Capital Ltd now owns 37,990 shares of the business services provider’s stock valued at $1,703,000 after buying an additional 25,453 shares during the last quarter. SG Capital Management LLC acquired a new stake in shares of ABM Industries in the 1st quarter valued at approximately $13,730,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of ABM Industries in the 1st quarter valued at approximately $481,000. 91.62% of the stock is owned by institutional investors.

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.