ABM Industries (NYSE:ABM) Sets New 52-Week High – Here’s Why

Shares of ABM Industries Incorporated (NYSE:ABM) hit a new 52-week high on Wednesday. The stock traded as high as $52.12 and last traded at $51.5660, with a volume of 253,559 shares traded. The stock had previously closed at $51.41.

Analyst Ratings Changes

ABM has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on ABM Industries from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Truist Financial boosted their price target on ABM Industries from $45.00 to $49.00 and gave the stock a “hold” rating in a research note on Monday, September 14th. UBS Group upped their price objective on shares of ABM Industries from $45.00 to $51.50 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Weiss Ratings upgraded shares of ABM Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.88.

ABM Industries Stock Performance

The firm’s 50 day moving average price is $48.95 and its 200-day moving average price is $45.21. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $3.16 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.46 and a beta of 0.64.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Tuesday, September 8th. The business services provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.32 billion. ABM Industries had a net margin of 1.82% and a return on equity of 12.46%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 EPS. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. On average, research analysts expect that ABM Industries Incorporated will post 4.00 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be paid a $0.29 dividend. The ex-dividend date is Thursday, October 1st. This represents a $1.16 dividend on an annualized basis and a yield of 2.2%. ABM Industries’s payout ratio is currently 41.88%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ABM. BlackRock Inc. acquired a new position in shares of ABM Industries during the 2nd quarter worth $410,948,000. Dimensional Fund Advisors LP boosted its stake in shares of ABM Industries by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 4,076,047 shares of the business services provider’s stock valued at $157,007,000 after purchasing an additional 24,213 shares during the period. Pzena Investment Management LLC bought a new stake in shares of ABM Industries in the second quarter worth $79,995,000. Copeland Capital Management LLC lifted its holdings in ABM Industries by 70.8% during the 3rd quarter. Copeland Capital Management LLC now owns 707,210 shares of the business services provider’s stock worth $34,017,000 after buying an additional 293,172 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in ABM Industries in the second quarter worth $24,486,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Company Profile

ABM Industries Incorporated (NYSE: ABM) is a provider of facility, aviation and transportation, and infrastructure solutions for commercial, industrial, institutional and public-sector customers. The company helps organizations operate and maintain their properties through services that include janitorial and custodial work, facility engineering, HVAC and electrical support, parking and transportation management, landscaping, and security-related solutions.

ABM also provides specialized services for airports, education and healthcare institutions, manufacturing and distribution facilities, data centers, sports and entertainment venues, and other complex environments.