Analysts Set ABM Industries Incorporated (NYSE:ABM) PT at $45.20

Shares of ABM Industries Incorporated (NYSE:ABM) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $45.20.

Separately, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd.

ABM Industries Price Performance

Shares of NYSE ABM opened at $44.04 on Tuesday. The firm has a market capitalization of $2.79 billion, a P/E ratio of 11.26 and a beta of 1.16. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. The stock’s 50-day simple moving average is $42.97 and its two-hundred day simple moving average is $42.46. ABM Industries has a twelve month low of $37.61 and a twelve month high of $53.05.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts anticipate that ABM Industries will post 3.37 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s dividend payout ratio is currently 23.02%.

Insider Transactions at ABM Industries

In related news, COO Rene Jacobsen sold 5,563 shares of the firm’s 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 completion of the transaction, the chief operating officer now owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Rene Jacobsen sold 5,563 shares of the firm’s 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 completion of the transaction, the chief operating officer now owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Dean A. Chin sold 5,465 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the transaction, the chief accounting officer now directly owns 19,972 shares of the company’s stock, valued at approximately $896,543.08. The disclosure for this sale can be found here. Corporate insiders own 1.04% of the company’s stock.

Institutional Trading of ABM Industries

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in ABM Industries during the 3rd quarter valued at $1,359,000. Charles Schwab Investment Management Inc. boosted its stake in shares of ABM Industries by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 611,698 shares of the business services provider’s stock worth $24,474,000 after buying an additional 15,976 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of ABM Industries by 26.2% in the 3rd quarter. Van ECK Associates Corp now owns 67,585 shares of the business services provider’s stock worth $2,704,000 after buying an additional 14,029 shares during the last quarter. Strs Ohio boosted its stake in shares of ABM Industries by 25.1% in the 3rd quarter. Strs Ohio now owns 26,400 shares of the business services provider’s stock worth $1,056,000 after buying an additional 5,300 shares during the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of ABM Industries by 8.1% in the 4th quarter. Cornerstone Wealth Management LLC now owns 9,207 shares of the business services provider’s stock worth $413,000 after buying an additional 688 shares during the last quarter. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

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.