ABM Industries (NYSE:ABM) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of ABM Industries (NYSE:ABM) from a hold rating to a buy rating in a research report report published on Wednesday.

ABM has been the topic of several other reports. UBS Group increased their price target on ABM Industries from $45.00 to $51.00 and gave the stock a neutral rating in a research report on Friday, June 7th. Robert W. Baird increased their price target on ABM Industries from $48.00 to $49.00 and gave the stock a neutral rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $48.80.

ABM Industries Stock Performance

Shares of ABM stock opened at $51.26 on Wednesday. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 13.42 and a beta of 1.16. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.44. The business has a fifty day moving average of $45.87 and a 200 day moving average of $43.82. ABM Industries has a 1 year low of $37.61 and a 1 year high of $53.05.

ABM Industries (NYSE:ABM) last issued its earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. As a group, research analysts expect that ABM Industries will post 3.47 earnings per share for the current year.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Friday, July 5th. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Insider Activity

In other news, EVP Andrea R. Newborn sold 12,615 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the sale, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,063,115. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Andrea R. Newborn sold 12,615 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the sale, the executive vice president now directly owns 45,847 shares in the company, valued at approximately $2,063,115. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Rene Jacobsen sold 5,563 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $43.59, for a total transaction of $242,491.17. Following the completion of the transaction, the chief operating officer now directly owns 111,677 shares in the company, valued at $4,868,000.43. The disclosure for this sale can be found here. Insiders have sold 23,643 shares of company stock worth $1,055,490 in the last ninety days. Company insiders own 1.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in ABM Industries in the 4th quarter valued at about $25,000. SRS Capital Advisors Inc. lifted its stake in ABM Industries by 323.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock valued at $30,000 after buying an additional 511 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in ABM Industries in the 4th quarter valued at about $48,000. Lazard Asset Management LLC lifted its stake in ABM Industries by 2,102.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after buying an additional 1,030 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in ABM Industries in the 4th quarter worth approximately $54,000. 91.62% of the stock is owned by hedge funds and other 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.