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

ABM Industries Incorporated (NYSE:ABM) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $55.6667.

Several research analysts have commented on the stock. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Baird R W cut shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Robert W. Baird restated a “neutral” rating and set a $54.00 price target (down from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. UBS Group raised their price objective on ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th.

ABM Industries Trading Down 0.4%

NYSE ABM opened at $42.04 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.82. The stock’s 50-day simple moving average is $44.22 and its two-hundred day simple moving average is $46.88. ABM Industries has a twelve month low of $40.00 and a twelve month high of $58.18. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 22.85 and a beta of 0.76.

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

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, October 2nd. ABM Industries’s dividend payout ratio is 57.61%.

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

Hedge Funds Weigh In On ABM Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC raised its position in ABM Industries by 20.6% during the 1st quarter. Intech Investment Management LLC now owns 65,040 shares of the business services provider’s stock valued at $3,080,000 after purchasing an additional 11,108 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of ABM Industries during the second quarter valued at approximately $913,000. Fox Run Management L.L.C. bought a new position in shares of ABM Industries during the second quarter valued at approximately $613,000. Nordea Investment Management AB purchased a new stake in ABM Industries in the second quarter worth $6,380,000. Finally, Victory Capital Management Inc. boosted its holdings in ABM Industries by 28.5% in the first quarter. Victory Capital Management Inc. now owns 175,453 shares of the business services provider’s stock valued at $8,309,000 after acquiring an additional 38,959 shares in the last quarter. 91.62% of the stock is owned by institutional investors.

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.