ABM Industries Incorporated (NYSE:ABM) has been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $48.25.
Several research firms recently issued reports on ABM. BidaskClub upgraded ABM Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. KeyCorp upgraded ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a report on Monday, September 11th. Zacks Investment Research cut ABM Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Robert W. Baird reiterated an “outperform” rating and issued a $47.00 price objective (down from $49.00) on shares of ABM Industries in a report on Thursday, July 13th. Finally, Sidoti upgraded ABM Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $55.00 in a report on Thursday, July 13th.
In other news, SVP Dean A. Chin sold 632 shares of ABM Industries stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total transaction of $28,408.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott J. Giacobbe sold 11,094 shares of ABM Industries stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $39.92, for a total transaction of $442,872.48. Following the sale, the insider now directly owns 59,152 shares in the company, valued at approximately $2,361,347.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,069 shares of company stock worth $618,769. Insiders own 1.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ABM Industries by 65.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock valued at $105,000 after buying an additional 946 shares during the period. Riverhead Capital Management LLC raised its position in shares of ABM Industries by 60.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock valued at $146,000 after buying an additional 1,328 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of ABM Industries by 12,666.7% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,830 shares of the business services provider’s stock valued at $159,000 after buying an additional 3,800 shares during the period. Independent Portfolio Consultants Inc. purchased a new stake in shares of ABM Industries during the 2nd quarter valued at approximately $162,000. Finally, Bruderman Asset Management LLC purchased a new stake in shares of ABM Industries during the 2nd quarter valued at approximately $164,000. 78.23% of the stock is currently owned by hedge funds and other institutional investors.
ABM Industries (NYSE ABM) traded up 0.12% during midday trading on Friday, hitting $42.67. The company had a trading volume of 64,104 shares. ABM Industries has a 1-year low of $37.12 and a 1-year high of $45.12. The firm has a market capitalization of $2.78 billion, a P/E ratio of 166.68 and a beta of 0.80. The company has a 50 day moving average price of $41.87 and a 200 day moving average price of $42.58.
ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, September 6th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts forecast that ABM Industries will post $1.88 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, October 4th. ABM Industries’s dividend payout ratio is currently 251.86%.
ABM Industries Company Profile
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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