Analysts Set ABM Industries Incorporated (NYSE:ABM) Price Target at $48.80

ABM Industries Incorporated (NYSE:ABM) has been given an average rating of “Hold” by the six ratings firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $48.80.

ABM has been the subject of several recent analyst reports. UBS Group lifted their price objective on shares of 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 upped their price objective on ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, June 10th. Finally, StockNews.com raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th.

ABM Industries Trading Up 0.4 %

ABM opened at $50.43 on Tuesday. The business has a fifty day moving average price of $47.97 and a 200 day moving average price of $44.59. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.44 and a quick ratio of 1.44. ABM Industries has a 12 month low of $37.61 and a 12 month high of $53.05. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 13.20 and a beta of 1.16.

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

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, July 5th. ABM Industries’s dividend payout ratio is currently 23.56%.

Insider Buying and Selling at ABM Industries

In related news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total value of $567,675.00. Following the transaction, 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 SEC, which is accessible through this link. 1.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On ABM Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Hawaiian Bank acquired a new position in ABM Industries in the 2nd quarter valued at $259,000. GAMMA Investing LLC increased its stake in ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 273 shares during the last quarter. SG Capital Management LLC purchased a new position in ABM Industries during the first quarter worth about $13,730,000. Boston Partners lifted its position in ABM Industries by 152.2% during the first quarter. Boston Partners now owns 24,125 shares of the business services provider’s stock worth $1,076,000 after buying an additional 14,560 shares during the period. Finally, Burney Co. boosted its stake in ABM Industries by 5.2% in the 1st quarter. Burney Co. now owns 15,195 shares of the business services provider’s stock worth $678,000 after buying an additional 748 shares during the last quarter. Institutional investors and hedge funds 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.