ABM Industries Incorporated (NYSE:ABM) Receives Average “Moderate Buy” Rating from Brokerages

Shares of ABM Industries Incorporated (NYSE:ABM – Get Rating) received a consensus “moderate buy” recommendation from the six analysts who currently cover the company, Marketbeat Ratings reports. Two analysts rated the stock with a hold rating and two gave the company a buy rating. The average 1-year target price among brokers who updated their coverage on the stock in the past year is $57.33.

ABM has been the subject of several analyst reports. TheStreet upgraded ABM Industries shares from a “c+” rating to a “b-” rating in a Monday, August 15 report. Robert W. Baird cut his price target on ABM Industries stock from $53.00 to $52.00 and set an “outperform” rating on the stock in a Monday, September 12 research report. Finally, StockNews.com took over coverage of ABM Industries stocks in a Wednesday, October 12 research report. They have set a “holding” rating on the stock.

Insider Activity at ABM Industries

Separately, CAO Dean A. Chin sold 1,209 shares of the company in a trade on Tuesday, August 16. The shares were sold at an average price of $48.00, for a total value of $58,032.00. As a result of the sale, the accounting chief now directly owns 23,515 shares of the company, valued at approximately $1,128,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the shares are currently held by insiders.

Institutional entries and exits

Institutional investors have recently changed their stake in the company. Pinebridge Investments LP increased its stake in shares of ABM Industries by 487.0% during the 2nd quarter. Pinebridge Investments LP now owns 587 shares of the business services provider worth $25,000 after buying an additional 487 shares in the last quarter. CM Bidwell & Associates Ltd. acquired a new position in ABM Industries in Q2 worth approximately $38,000. Operose Advisors LLC acquired a new position in ABM Industries in Q1 worth approximately $41,000. Assetmark Inc. increased its stake in ABM Industries by 104.1% in the second quarter. Assetmark Inc. now owns 951 shares of the business services provider valued at $41,000 after buying an additional 485 shares in the last quarter. Finally, Private Trust Co. NA acquired a new position in ABM Industries in Q3 valued at around $43,000. 94.21% of the shares are currently held by institutional investors and hedge funds.

Performance of ABM Industries shares

ABM Industries shares opened at $41.36 on Monday. The company has a debt ratio of 0.60, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $2.74 billion, a P/E ratio of 13.01 and a beta of 1.09. The company has a 50-day simple moving average of $42.95 and a 200-day simple moving average of $44.55. ABM Industries has a fifty-two week low of $37.68 and a fifty-two week high of $54.00.

ABM Industries (NYSE:ABM – Get Rating) last reported results on Friday, September 9. The business services provider reported EPS of $0.94 for the quarter, beating analyst consensus estimates of $0.90 by $0.04. ABM Industries posted a net margin of 2.88% and a return on equity of 14.88%. The company posted revenue of $1.96 billion in the quarter, versus analyst estimates of $1.91 billion. In the same quarter of the previous year, the company achieved EPS of $0.90. The company’s quarterly revenue increased by 27.1% compared to the same quarter last year. Sell-side analysts expect ABM Industries to post earnings per share of 3.66 for the current fiscal year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 7. Investors of record on Thursday, October 6 will receive a dividend of $0.195. The ex-date of this dividend is Wednesday, October 5. This represents an annualized dividend of $0.78 and a yield of 1.89%. ABM Industries’ payout ratio is currently 24.53%.

ABM Industries Company Profile

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ABM Industries Incorporated provides integrated plant solutions in the United States and internationally. The Company operates through Trade & Industry, Technology & Manufacturing, Education, Aviation and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and grounds services, as well as mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

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