ABM Industries (NYSE:ABM) Price Target Raised to $55.00

ABM Industries (NYSE:ABM) had its price objective raised by UBS Group from $51.00 to $55.00 in a research note released on Monday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Truist Financial boosted their target price on shares of ABM Industries from $49.00 to $55.00 and gave the company a hold rating in a report on Monday. Robert W. Baird boosted their target price on shares of ABM Industries from $49.00 to $56.00 and gave the company a neutral rating in a report on Monday. Finally, StockNews.com downgraded shares of ABM Industries from a buy rating to a hold rating in a research note on Friday, August 2nd.

ABM Industries Price Performance

ABM Industries stock opened at $49.07 on Monday. ABM Industries has a 1 year low of $38.48 and a 1 year high of $59.78. The firm has a 50 day moving average price of $53.52 and a 200 day moving average price of $48.42. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 12.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.44 and a current ratio of 1.38.

ABM Industries (NYSE:ABM) last released its earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm earned $0.79 earnings per share. ABM Industries’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that ABM Industries will post 3.49 earnings per share for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.225 per share. The ex-dividend date is Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.83%. ABM Industries’s dividend payout ratio is currently 23.56%.

Insiders Place Their Bets

In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the sale, the chief operating officer now directly owns 72,062 shares in the company, valued at $3,723,443.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Rene Jacobsen sold 40,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the transaction, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at $3,723,443.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott B. Salmirs sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the transaction, the chief executive officer now directly owns 378,391 shares in the company, valued at $18,503,319.90. The disclosure for this sale can be found here. Insiders sold a total of 78,778 shares of company stock worth $4,039,248 over the last ninety days. 1.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BOKF NA acquired a new position in shares of ABM Industries during the second quarter worth $30,000. Adirondack Trust Co. raised its holdings in ABM Industries by 250.0% in the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 500 shares in the last quarter. GAMMA Investing LLC raised its holdings in ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 273 shares in the last quarter. Lazard Asset Management LLC raised its holdings in ABM Industries by 2,102.0% in the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in ABM Industries in the fourth quarter valued at $54,000. 91.62% of the stock is owned by institutional investors and hedge funds.

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.