ABM Industries (NYSE:ABM) Hits New 12-Month High – Here’s Why

ABM Industries Incorporated (NYSE:ABM)’s share price hit a new 52-week high on Thursday. The company traded as high as $55.70 and last traded at $55.41, with a volume of 10,157 shares changing hands. The stock had previously closed at $53.62.

Wall Street Analysts Forecast Growth

ABM has been the subject of several recent research reports. Robert W. Baird increased their price objective on shares of ABM Industries from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Weiss Ratings raised ABM Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, October 13th. UBS Group boosted their price objective on ABM Industries from $45.00 to $51.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. Finally, Truist Financial upped their target price on ABM Industries from $45.00 to $49.00 and gave the stock a “hold” rating in a research report on Monday, September 14th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $50.88.

ABM Industries Stock Down 1.5%

The company has a market cap of $3.10 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.40 and a beta of 0.66. The stock has a 50-day simple moving average of $50.38 and a 200-day simple moving average of $45.10. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.97.

ABM Industries (NYSE:ABM) last announced its earnings results on Tuesday, September 8th. The business services provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. ABM Industries had a return on equity of 12.46% and a net margin of 1.82%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.82 earnings per share. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. As a group, analysts predict that ABM Industries Incorporated will post 4.00 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Thursday, October 1st. ABM Industries’s dividend payout ratio is currently 41.88%.

Institutional Trading of ABM Industries

Several institutional investors have recently modified their holdings of ABM. Aberdeen Wealth Management LLC bought a new stake in shares of ABM Industries in the second quarter worth about $25,000. IFP Advisors Inc boosted its holdings in shares of ABM Industries by 183.7% during the 2nd quarter. IFP Advisors Inc now owns 590 shares of the business services provider’s stock worth $26,000 after buying an additional 382 shares during the period. Continuum Advisory LLC acquired a new stake in ABM Industries in the 2nd quarter worth about $27,000. Fortitude Family Office LLC increased its stake in shares of ABM Industries by 1,451.4% in the third quarter. Fortitude Family Office LLC now owns 574 shares of the business services provider’s stock valued at $28,000 after buying an additional 537 shares during the period. Finally, Root Financial Partners LLC bought a new stake in shares of ABM Industries during the 3rd quarter valued at about $33,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Company Profile

ABM Industries Incorporated (NYSE: ABM) is a provider of facility, aviation and transportation, and infrastructure solutions for commercial, industrial, institutional and public-sector customers. The company helps organizations operate and maintain their properties through services that include janitorial and custodial work, facility engineering, HVAC and electrical support, parking and transportation management, landscaping, and security-related solutions.

ABM also provides specialized services for airports, education and healthcare institutions, manufacturing and distribution facilities, data centers, sports and entertainment venues, and other complex environments.