ABM Industries Incorporated (NYSE:ABM) Receives $45.20 Average Target Price from Analysts

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

A number of research analysts have recently commented on ABM shares. StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Truist Financial raised 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 Research Report on ABM Industries

Insider Buying and Selling at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now owns 111,677 shares in the company, valued at approximately $4,868,000.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Also, COO Rene Jacobsen sold 5,563 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following 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. Insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On ABM Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its position in shares of 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 buying an additional 1,140,097 shares during the period. Dimensional Fund Advisors LP increased its holdings in ABM Industries by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,687,476 shares of the business services provider’s stock valued at $210,141,000 after purchasing an additional 66,334 shares in the last quarter. Victory Capital Management Inc. increased its holdings in ABM Industries by 16.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,931,733 shares of the business services provider’s stock valued at $85,808,000 after purchasing an additional 268,099 shares in the last quarter. Macquarie Group Ltd. increased its holdings in ABM Industries by 2.1% during the 1st quarter. Macquarie Group Ltd. now owns 1,836,382 shares of the business services provider’s stock valued at $82,527,000 after purchasing an additional 38,047 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in ABM Industries by 353.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,396,596 shares of the business services provider’s stock valued at $60,641,000 after purchasing an additional 1,088,389 shares in the last quarter. Institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $44.57 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 11.40 and a beta of 1.16. The business’s 50-day simple moving average is $41.88 and its 200-day simple moving average is $42.00. ABM Industries has a 52 week low of $37.61 and a 52 week high of $53.05.

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, beating analysts’ consensus estimates of $0.72 by $0.14. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates 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 for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 EPS. As a group, equities research analysts expect that ABM Industries will post 3.37 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Thursday, April 4th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is currently 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.

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Analyst Recommendations for ABM Industries (NYSE:ABM)

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