ABM Industries (NYSE:ABM) Upgraded at StockNews.com

ABM Industries (NYSE:ABMGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

ABM has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on ABM Industries from $62.00 to $65.00 in a report on Wednesday, April 20th. Zacks Investment Research upgraded ABM Industries from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a research report on Friday, March 11th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ABM Industries currently has an average rating of “Buy” and an average target price of $57.67.

Shares of NYSE ABM opened at $47.91 on Wednesday. ABM Industries has a 12 month low of $38.44 and a 12 month high of $54.00. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 25.62 and a beta of 1.23. The business has a 50-day moving average of $46.36 and a 200-day moving average of $44.83.

ABM Industries (NYSE:ABMGet Rating) last issued its quarterly earnings data on Tuesday, March 8th. The business services provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.15. ABM Industries had a return on equity of 14.86% and a net margin of 1.91%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. ABM Industries’s revenue was up 29.7% on a year-over-year basis. On average, analysts predict that ABM Industries will post 3.6 earnings per share for the current year.

In related news, Director Linda Chavez sold 2,008 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The stock was sold at an average price of $46.13, for a total transaction of $92,629.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrea R. Newborn sold 8,619 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $49.35, for a total value of $425,347.65. Following the transaction, the executive vice president now owns 40,976 shares of the company’s stock, valued at approximately $2,022,165.60. The disclosure for this sale can be found here. Insiders sold a total of 19,374 shares of company stock valued at $915,090 in the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Barclays PLC raised its holdings in shares of ABM Industries by 247.6% during the third quarter. Barclays PLC now owns 318,092 shares of the business services provider’s stock valued at $14,317,000 after acquiring an additional 226,582 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of ABM Industries by 358.1% during the third quarter. American Century Companies Inc. now owns 255,956 shares of the business services provider’s stock valued at $11,521,000 after acquiring an additional 200,082 shares in the last quarter. Invesco Ltd. grew its stake in ABM Industries by 52.2% in the third quarter. Invesco Ltd. now owns 435,769 shares of the business services provider’s stock worth $19,614,000 after purchasing an additional 149,487 shares during the period. Copeland Capital Management LLC grew its stake in ABM Industries by 0.7% in the fourth quarter. Copeland Capital Management LLC now owns 1,050,726 shares of the business services provider’s stock worth $42,922,000 after purchasing an additional 7,598 shares during the period. Finally, Principal Financial Group Inc. grew its stake in ABM Industries by 63.8% in the third quarter. Principal Financial Group Inc. now owns 1,342,895 shares of the business services provider’s stock worth $60,443,000 after purchasing an additional 523,007 shares during the period. Institutional investors own 93.46% of the company’s stock.

About ABM Industries (Get Rating)

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

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