ABM Industries (NYSE:ABM) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of ABM Industries (NYSE:ABMFree Report) from a hold rating to a buy rating in a research note released on Wednesday morning.

A number of other analysts also recently commented on the stock. UBS Group increased 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. Robert W. Baird increased their price target on shares of ABM Industries from $48.00 to $49.00 and gave the company a neutral rating in a research note on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $48.80.

Check Out Our Latest Stock Analysis on ABM

ABM Industries Stock Down 2.6 %

ABM opened at $49.16 on Wednesday. ABM Industries has a twelve month low of $37.61 and a twelve month high of $53.05. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a 50-day moving average price of $46.09 and a 200 day moving average price of $43.92. The company has a market cap of $3.09 billion, a PE ratio of 12.87 and a beta of 1.16.

ABM Industries (NYSE:ABMGet Free Report) last released its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. ABM Industries’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. Sell-side analysts expect that ABM Industries will post 3.47 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.83%. ABM Industries’s payout ratio is currently 23.56%.

Insider Buying and Selling

In related news, EVP Andrea R. Newborn sold 12,615 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total transaction of $567,675.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Andrea R. Newborn sold 12,615 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total transaction of $567,675.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Rene Jacobsen sold 5,563 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total transaction of $242,491.17. Following the transaction, the chief operating officer now directly owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,643 shares of company stock valued at $1,055,490. Company insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On ABM Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in ABM Industries by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,687,476 shares of the business services provider’s stock valued at $210,141,000 after buying an additional 66,334 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in ABM Industries by 20.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,262,155 shares of the business services provider’s stock valued at $50,499,000 after buying an additional 215,795 shares during the period. Invesco Ltd. boosted its position in ABM Industries by 5.4% in the 3rd quarter. Invesco Ltd. now owns 1,033,051 shares of the business services provider’s stock valued at $41,332,000 after buying an additional 53,318 shares during the period. Northern Trust Corp boosted its position in ABM Industries by 1.1% in the 3rd quarter. Northern Trust Corp now owns 932,847 shares of the business services provider’s stock valued at $37,323,000 after buying an additional 10,020 shares during the period. Finally, Norges Bank purchased a new position in ABM Industries in the 4th quarter valued at approximately $31,310,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

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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