ABM Industries (ABM) – Analysts’ Recent Ratings Updates

A number of research firms have changed their ratings and price targets for ABM Industries (NYSE: ABM):

  • 5/13/2022 – ABM Industries was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 5/10/2022 – ABM Industries was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $48.00 price target on the stock. According to Zacks, “ABM Industries' shares have outperformed its industry in the year-to-date period, partly due to earnings and revenue beat in the past four quarters and raised fiscal 2022 guidance. The company's comprehensive transformational initiative called 2020 Vision should help it attain long-term profitable growth through an industry-based go-to-market approach. Multi-year comprehensive strategic plan, ELEVATE is expected to accelerate the company’s organic growth, improve its strategic and comprehensive positioning and reinforce profitability. ABM has a consistent track record of dividend payment. However, ABM Industries continues to grapple with a challenging labor environment. Rising selling, general and administrative expenses is likely to keep the company’s bottom line under pressure going forward. High debt remains a concern.”
  • 5/5/2022 – ABM Industries was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 4/27/2022 – ABM Industries was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 4/20/2022 – ABM Industries had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $62.00 to $65.00.
  • 4/19/2022 – ABM Industries was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 3/31/2022 – ABM Industries is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/29/2022 – ABM Industries is now covered by analysts at Deutsche Bank Aktiengesellschaft. They set a “buy” rating and a $62.00 price target on the stock.

ABM opened at $46.95 on Wednesday. The business has a 50 day simple moving average of $46.92 and a 200-day simple moving average of $44.99. The stock has a market capitalization of $3.14 billion, a P/E ratio of 25.11 and a beta of 1.10. ABM Industries Incorporated has a 12 month low of $38.44 and a 12 month high of $54.00. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.17 and a quick ratio of 1.17.

ABM Industries (NYSE:ABMGet Rating) last released its quarterly earnings results on Tuesday, March 8th. The business services provider reported $0.94 earnings per share for the quarter, topping the 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 the consensus estimate of $1.83 billion. During the same quarter last year, the business posted $1.01 earnings per share. ABM Industries’s revenue was up 29.7% compared to the same quarter last year. Research analysts anticipate that ABM Industries Incorporated will post 3.6 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Thursday, April 7th were paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, April 6th. ABM Industries’s payout ratio is currently 41.71%.

In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Raul Javier Valentin sold 1,109 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $45.64, for a total value of $50,614.76. Following the completion of the transaction, the executive vice president now directly owns 14,337 shares of the company’s stock, valued at $654,340.68. The disclosure for this sale can be found here. Insiders have sold 24,140 shares of company stock worth $1,141,717 in the last 90 days. 0.54% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABM. BlackRock Inc. lifted its position in shares of ABM Industries by 3.5% during the 4th quarter. BlackRock Inc. now owns 10,841,075 shares of the business services provider’s stock valued at $442,858,000 after acquiring an additional 369,857 shares during the last quarter. State Street Corp grew its holdings in ABM Industries by 19.3% during the 1st quarter. State Street Corp now owns 7,059,579 shares of the business services provider’s stock worth $325,023,000 after acquiring an additional 1,140,097 shares during the period. Dimensional Fund Advisors LP lifted its position in ABM Industries by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,173,144 shares of the business services provider’s stock worth $192,131,000 after buying an additional 79,437 shares in the last quarter. Vulcan Value Partners LLC increased its stake in shares of ABM Industries by 19.3% during the 3rd quarter. Vulcan Value Partners LLC now owns 1,699,988 shares of the business services provider’s stock worth $76,516,000 after purchasing an additional 275,424 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of ABM Industries by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,641,358 shares of the business services provider’s stock worth $75,568,000 after purchasing an additional 37,050 shares in the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.

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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