ABM Industries Incorporated (NYSE:ABM) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

Several other research analysts have also weighed in on ABM. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. Robert W. Baird set a $50.00 price objective on ABM Industries and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Finally, Sidoti raised ABM Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $55.00 in a research report on Thursday, July 13th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $48.25.

Shares of ABM Industries (NYSE ABM) traded up 0.18% during midday trading on Friday, hitting $43.76. The company’s stock had a trading volume of 48,083 shares. The company has a market cap of $2.44 billion, a P/E ratio of 194.49 and a beta of 0.80. ABM Industries has a 1-year low of $37.47 and a 1-year high of $45.12. The company has a 50-day moving average price of $43.03 and a 200 day moving average price of $42.35.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, June 7th. The business services provider reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. On average, equities research analysts predict that ABM Industries will post $1.95 EPS for the current year.

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In related news, insider Rene Jacobsen sold 940 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $40.92, for a total value of $38,464.80. Following the completion of the sale, the insider now directly owns 22,729 shares of the company’s stock, valued at approximately $930,070.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Dean A. Chin sold 632 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $44.95, for a total value of $28,408.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,925 shares of company stock valued at $385,575. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of ABM. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock worth $105,000 after buying an additional 946 shares during the last quarter. Elkfork Partners LLC raised its stake in shares of ABM Industries by 2.5% in the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock worth $120,000 after buying an additional 66 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of ABM Industries by 60.4% in the second quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock worth $146,000 after buying an additional 1,328 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of ABM Industries by 2.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock worth $153,000 after buying an additional 84 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. purchased a new stake in shares of ABM Industries during the second quarter worth approximately $162,000. 93.28% of the stock is owned by institutional investors and hedge funds.

ABM Industries Company Profile

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

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