ABM Industries Incorporated (NYSE:ABM) Given Average Recommendation of “Hold” by Brokerages

Shares of ABM Industries Incorporated (NYSE:ABMGet Free Report) have been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $45.20.

ABM has been the subject of a number of research analyst reports. Truist Financial increased their price objective on shares of ABM Industries from $43.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, December 14th. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd.

Read Our Latest Analysis on ABM

Insider Buying and Selling

In other ABM Industries news, EVP Andrea R. Newborn sold 9,766 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $48.30, for a total value of $471,697.80. Following the completion of the sale, the executive vice president now directly owns 42,722 shares in the company, valued at approximately $2,063,472.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Andrea R. Newborn sold 9,766 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $48.30, for a total transaction of $471,697.80. Following the transaction, the executive vice president now owns 42,722 shares of the company’s stock, valued at approximately $2,063,472.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $50.00, for a total value of $1,250,000.00. Following the completion of the sale, the chief executive officer now directly owns 326,690 shares in the company, valued at approximately $16,334,500. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,107 shares of company stock worth $2,010,213. 1.04% of the stock is owned by corporate insiders.

Institutional Trading of ABM Industries

A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in shares of ABM Industries by 8.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 235,754 shares of the business services provider’s stock valued at $10,569,000 after acquiring an additional 18,892 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of ABM Industries in the fourth quarter valued at $381,000. Price T Rowe Associates Inc. MD lifted its position in shares of ABM Industries by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,138 shares of the business services provider’s stock valued at $1,710,000 after acquiring an additional 2,305 shares in the last quarter. Clarity Asset Management Inc. purchased a new stake in shares of ABM Industries in the fourth quarter valued at $54,000. Finally, Barclays PLC lifted its position in shares of ABM Industries by 240.0% in the fourth quarter. Barclays PLC now owns 109,991 shares of the business services provider’s stock valued at $4,930,000 after acquiring an additional 77,637 shares in the last quarter. 86.42% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Price Performance

ABM opened at $41.94 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $2.65 billion, a P/E ratio of 11.07 and a beta of 1.15. The company’s 50-day simple moving average is $41.58 and its two-hundred day simple moving average is $42.00. ABM Industries has a 52-week low of $37.61 and a 52-week high of $53.05.

ABM Industries (NYSE:ABMGet Free Report) last posted its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.01 billion. ABM Industries had a net margin of 3.10% and a return on equity of 12.92%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. As a group, analysts predict that ABM Industries will post 3.32 EPS for the current year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s payout ratio is 23.75%.

About ABM Industries

(Get Free Report

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.

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Analyst Recommendations for ABM Industries (NYSE:ABM)

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