ABM Industries Incorporated (NYSE:ABM) Receives $45.20 Average Target Price from Analysts

Shares of ABM Industries Incorporated (NYSE:ABM) have earned an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $45.20.

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

ABM Industries Trading Up 0.5 %

NYSE ABM opened at $44.28 on Tuesday. 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 capitalization of $2.80 billion, a PE ratio of 11.32 and a beta of 1.16. The stock has a 50-day simple moving average of $43.05 and a 200 day simple moving average of $42.46. ABM Industries has a 12 month low of $37.61 and a 12 month high of $53.05.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business earned $0.79 EPS. ABM Industries’s revenue for the quarter was up 3.9% compared to the same quarter last year. Research analysts forecast that ABM Industries will post 3.37 EPS for the current year.

ABM Industries Announces Dividend

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

Insider Activity

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

Hedge Funds Weigh In On ABM Industries

A number of hedge funds have recently bought and sold shares of ABM. SG Americas Securities LLC bought a new stake in ABM Industries in the 3rd quarter valued at about $1,359,000. Naples Global Advisors LLC boosted its stake in shares of ABM Industries by 34.4% in the third quarter. Naples Global Advisors LLC now owns 6,355 shares of the business services provider’s stock valued at $254,000 after buying an additional 1,625 shares during the period. Simplicity Solutions LLC grew its position in ABM Industries by 2.4% during the third quarter. Simplicity Solutions LLC now owns 81,725 shares of the business services provider’s stock worth $3,270,000 after buying an additional 1,931 shares in the last quarter. Copeland Capital Management LLC increased its stake in ABM Industries by 0.9% during the 3rd quarter. Copeland Capital Management LLC now owns 1,382,639 shares of the business services provider’s stock worth $55,319,000 after acquiring an additional 12,280 shares during the period. Finally, Raymond James & Associates increased its stake in ABM Industries by 4.2% during the 3rd quarter. Raymond James & Associates now owns 94,911 shares of the business services provider’s stock worth $3,797,000 after acquiring an additional 3,797 shares during the period. 91.62% of the stock is owned by institutional investors.

About ABM Industries

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.