Brokerages Set ABM Industries Incorporated (NYSE:ABM) Price Target at $45.20

Shares of ABM Industries Incorporated (NYSE:ABM) have been given an average recommendation of “Hold” by the six analysts that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $45.20.

Separately, StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd.

ABM Industries Price Performance

NYSE ABM opened at $44.33 on Tuesday. ABM Industries has a 1 year low of $37.61 and a 1 year high of $53.05. The company has a fifty day simple moving average of $42.85 and a 200 day simple moving average of $42.44. 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 cap of $2.81 billion, a P/E ratio of 11.34 and a beta of 1.16.

ABM Industries (NYSE:ABM) last released its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. The firm 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 company’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. On average, sell-side analysts predict that ABM Industries will post 3.37 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Thursday, April 4th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s dividend payout ratio is 23.02%.

Insider Activity

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

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 position in shares of ABM Industries during the 4th quarter worth approximately $25,000. SRS Capital Advisors Inc. boosted its position in ABM Industries by 323.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock worth $30,000 after purchasing an additional 511 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of ABM Industries in the fourth quarter valued at $48,000. Clarity Asset Management Inc. bought a new position in shares of ABM Industries in the fourth quarter valued at about $54,000. Finally, Quest Partners LLC acquired a new stake in shares of ABM Industries during the 4th quarter worth about $58,000. Institutional investors own 91.62% of the company’s stock.

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.