ABM Industries Incorporated (NYSE:ABM) Receives Average Recommendation of “Hold” from Brokerages

Shares of ABM Industries Incorporated (NYSE:ABMGet Free Report) have received a consensus recommendation of “Hold” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $45.20.

Several research firms have recently issued reports on ABM. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Truist Financial upped their target price on ABM Industries from $43.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, December 14th.

Read Our Latest Stock Analysis on ABM Industries

Insider Activity at ABM Industries

In related news, CAO Dean A. Chin sold 5,465 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the completion of the transaction, the chief accounting officer now owns 19,972 shares in the company, valued at approximately $896,543.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ABM Industries news, CAO Dean A. Chin sold 5,465 shares of ABM Industries stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the transaction, the chief accounting officer now owns 19,972 shares in the company, valued at approximately $896,543.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Rene Jacobsen sold 5,563 shares of ABM Industries stock in a transaction on Monday, March 25th. The shares were sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the transaction, the chief operating officer now owns 111,677 shares of the company’s stock, valued at approximately $4,868,000.43. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ABM Industries

A number of institutional investors and hedge funds have recently made changes to their positions in ABM. GAMMA Investing LLC bought a new stake in ABM Industries in the fourth quarter valued at about $25,000. SRS Capital Advisors Inc. grew its stake in ABM Industries by 323.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 511 shares during the period. Amundi acquired a new position in ABM Industries in the fourth quarter valued at about $36,000. Point72 Asset Management L.P. acquired a new position in ABM Industries in the second quarter valued at about $46,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of ABM Industries during the fourth quarter worth about $48,000. Institutional investors own 91.62% of the company’s stock.

ABM Industries Price Performance

Shares of NYSE ABM opened at $44.62 on Friday. ABM Industries has a twelve month low of $37.61 and a twelve month high of $53.05. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 11.41 and a beta of 1.15. The business has a 50 day simple moving average of $41.73 and a 200-day simple moving average of $41.88.

ABM Industries (NYSE:ABMGet Free Report) last issued its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.01 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 EPS. As a group, equities research analysts expect that ABM Industries will post 3.38 earnings per share for the current year.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be paid a dividend of $0.225 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a yield of 2.02%. ABM Industries’s payout ratio is 23.02%.

ABM Industries Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for ABM Industries (NYSE:ABM)

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