Analysts Set ABM Industries Incorporated (NYSE:ABM) Target Price at $57.33

Shares of ABM Industries Incorporated (NYSE:ABMGet Rating) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $57.33.

A number of equities analysts have recently weighed in on ABM shares. StockNews.com started coverage on shares of ABM Industries in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. TheStreet raised shares of ABM Industries from a “c+” rating to a “b-” rating in a report on Monday, August 15th. Finally, Robert W. Baird reduced their price target on shares of ABM Industries from $53.00 to $52.00 and set an “outperform” rating for the company in a research report on Monday, September 12th.

ABM Industries Stock Up 1.0 %

Shares of ABM Industries stock opened at $45.47 on Friday. The company has a market cap of $3.01 billion, a P/E ratio of 14.30 and a beta of 1.13. The firm has a fifty day moving average of $41.98 and a two-hundred day moving average of $43.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.21. ABM Industries has a one year low of $37.68 and a one year high of $54.00.

ABM Industries (NYSE:ABMGet Rating) last posted its quarterly earnings results on Friday, September 9th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. ABM Industries had a net margin of 2.88% and a return on equity of 14.88%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 27.1% on a year-over-year basis. On average, analysts forecast that ABM Industries will post 3.66 earnings per share for the current year.

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Thursday, October 6th were issued a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend was Wednesday, October 5th. ABM Industries’s dividend payout ratio (DPR) is presently 24.53%.

Insider Transactions at ABM Industries

In other news, CAO Dean A. Chin sold 2,521 shares of the business’s stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $43.00, for a total value of $108,403.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,994 shares of the company’s stock, valued at $902,742. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ABM. Nisa Investment Advisors LLC purchased a new stake in ABM Industries in the 1st quarter valued at about $175,000. Personal CFO Solutions LLC boosted its holdings in shares of ABM Industries by 4.7% in the 1st quarter. Personal CFO Solutions LLC now owns 5,211 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 234 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of ABM Industries by 5.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 9,700 shares of the business services provider’s stock worth $447,000 after buying an additional 513 shares during the period. Verdence Capital Advisors LLC boosted its holdings in ABM Industries by 5.2% in the first quarter. Verdence Capital Advisors LLC now owns 8,373 shares of the business services provider’s stock valued at $385,000 after acquiring an additional 415 shares during the last quarter. Finally, Versor Investments LP grew its position in ABM Industries by 33.8% during the first quarter. Versor Investments LP now owns 9,963 shares of the business services provider’s stock valued at $459,000 after acquiring an additional 2,519 shares during the period. 94.21% of the stock is currently owned by institutional investors and hedge funds.

About ABM Industries

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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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