Brokerages Set ABM Industries Incorporated (NYSE:ABM) Price Target at $55.67

Shares of ABM Industries Incorporated (NYSE:ABM) have received a consensus rating of “Hold” from the five brokerages that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $55.6667.

A number of equities analysts have recently commented on ABM shares. Baird R W lowered shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Robert W. Baird reissued a “neutral” rating and issued a $54.00 price target (down previously from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. Truist Financial upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Wall Street Zen upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group raised their price objective on shares of ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, September 8th.

Institutional Investors Weigh In On ABM Industries

Several institutional investors and hedge funds have recently made changes to their positions in ABM. GAMMA Investing LLC boosted its stake in shares of ABM Industries by 4,082.5% in the 1st quarter. GAMMA Investing LLC now owns 70,140 shares of the business services provider’s stock valued at $3,322,000 after purchasing an additional 68,463 shares in the last quarter. apricus wealth LLC acquired a new stake in shares of ABM Industries in the 1st quarter valued at $217,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of ABM Industries by 12.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider’s stock valued at $289,000 after purchasing an additional 693 shares in the last quarter. Palouse Capital Management Inc. boosted its stake in shares of ABM Industries by 17.4% in the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider’s stock valued at $143,000 after purchasing an additional 446 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in shares of ABM Industries in the 1st quarter valued at $330,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $46.59 on Friday. ABM Industries has a fifty-two week low of $40.85 and a fifty-two week high of $59.15. The stock has a market capitalization of $2.85 billion, a P/E ratio of 25.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50-day moving average of $47.14 and a two-hundred day moving average of $47.76.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, September 5th. The business services provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. On average, equities research analysts predict that ABM Industries will post 3.71 EPS for the current fiscal year.

ABM Industries announced that its Board of Directors has approved a stock buyback plan on Friday, September 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the business services provider to buy up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Thursday, October 2nd. ABM Industries’s payout ratio is currently 57.61%.

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.