Maxim Group reiterated their buy rating on shares of ABM Industries (NYSE:ABM) in a research report sent to investors on Friday morning, AnalystRatings.com reports. They currently have a $50.00 price target on the business services provider’s stock.
“We increase our $2.62 (from $2.56) as we believe recent results and guidance from Cintas (CTAS – Not Rated) suggest demand for ABM’s facility services, including energy efficiency projects, will continue to increase.”,” the firm’s analyst commented.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded GENEL ENERGY PL/ADR from a buy rating to a hold rating in a report on Tuesday, May 7th. KeyCorp boosted their price objective on Vipshop from $10.00 to $11.00 and gave the company an overweight rating in a report on Friday, April 5th. Finally, ValuEngine upgraded YY from a sell rating to a hold rating in a report on Friday, June 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $41.71.
NYSE:ABM opened at $41.36 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $2.74 billion, a P/E ratio of 21.43 and a beta of 0.64. ABM Industries has a 52 week low of $25.64 and a 52 week high of $42.21. The company has a fifty day simple moving average of $39.74.
ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, June 5th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. ABM Industries had a return on equity of 8.82% and a net margin of 1.33%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. Equities analysts expect that ABM Industries will post 2.03 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.72 annualized dividend and a yield of 1.74%. ABM Industries’s dividend payout ratio (DPR) is 38.10%.
In other ABM Industries news, Director Linda Chavez sold 6,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the director now owns 21,070 shares in the company, valued at approximately $842,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Dean A. Chin sold 8,758 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $37.53, for a total value of $328,687.74. Following the sale, the chief accounting officer now owns 28,644 shares in the company, valued at approximately $1,075,009.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,428 shares of company stock worth $1,298,916. 0.94% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ABM. Walthausen & Co. LLC boosted its position in shares of ABM Industries by 20.1% during the 1st quarter. Walthausen & Co. LLC now owns 383,983 shares of the business services provider’s stock worth $13,958,000 after acquiring an additional 64,260 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ABM Industries by 14.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,121,460 shares of the business services provider’s stock worth $36,010,000 after acquiring an additional 140,814 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of ABM Industries by 2.1% during the 4th quarter. Principal Financial Group Inc. now owns 542,699 shares of the business services provider’s stock worth $17,426,000 after acquiring an additional 10,988 shares in the last quarter. Millennium Management LLC boosted its position in shares of ABM Industries by 26.0% during the 4th quarter. Millennium Management LLC now owns 689,460 shares of the business services provider’s stock worth $22,139,000 after acquiring an additional 142,470 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of ABM Industries by 2.1% during the 4th quarter. Legal & General Group Plc now owns 180,835 shares of the business services provider’s stock worth $5,759,000 after acquiring an additional 3,661 shares in the last quarter.
About ABM Industries
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.
Further Reading: Preferred Stock
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