ABM Industries Incorporated (NYSE:ABM) Receives $48.80 Average Target Price from Analysts

ABM Industries Incorporated (NYSE:ABM) has earned a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $48.80.

ABM has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, June 7th. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird lifted their price objective on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, June 10th.

Insider Buying and Selling at ABM Industries

In other news, COO Rene Jacobsen sold 40,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $51.67, for a total value of $2,066,800.00. Following the sale, the chief operating officer now owns 72,062 shares in the company, valued at $3,723,443.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Scott B. Salmirs sold 25,000 shares of the firm’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 sale, the chief executive officer now owns 378,391 shares in the company, valued at $18,503,319.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Rene Jacobsen sold 40,000 shares of ABM Industries stock in a transaction on Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the transaction, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at approximately $3,723,443.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,778 shares of company stock worth $4,039,248. Insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On ABM Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning grew its holdings in ABM Industries by 35.0% in the second quarter. Creative Planning now owns 20,996 shares of the business services provider’s stock valued at $1,062,000 after purchasing an additional 5,448 shares during the period. Algert Global LLC grew its stake in ABM Industries by 50.8% in the 2nd quarter. Algert Global LLC now owns 200,497 shares of the business services provider’s stock valued at $10,139,000 after acquiring an additional 67,560 shares during the period. The Manufacturers Life Insurance Company increased its holdings in ABM Industries by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,036 shares of the business services provider’s stock worth $1,772,000 after acquiring an additional 539 shares in the last quarter. AQR Capital Management LLC raised its position in ABM Industries by 21.2% during the second quarter. AQR Capital Management LLC now owns 219,831 shares of the business services provider’s stock worth $11,117,000 after acquiring an additional 38,429 shares during the period. Finally, AXA S.A. lifted its holdings in ABM Industries by 21.7% during the second quarter. AXA S.A. now owns 51,062 shares of the business services provider’s stock valued at $2,582,000 after purchasing an additional 9,095 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Price Performance

Shares of ABM stock opened at $55.43 on Wednesday. The stock’s 50-day moving average is $52.54 and its 200 day moving average is $47.21. ABM Industries has a 1-year low of $37.61 and a 1-year high of $56.30. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market cap of $3.48 billion, a P/E ratio of 14.51 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter last year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Research analysts predict that ABM Industries will post 3.46 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Friday, July 5th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Friday, July 5th. ABM Industries’s dividend payout ratio is currently 23.56%.

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.