UBS Group Issues Pessimistic Forecast for ABM Industries (NYSE:ABM) Stock Price

ABM Industries (NYSE:ABM) had its price target cut by UBS Group from $56.00 to $50.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. UBS Group’s price target indicates a potential upside of 6.92% from the stock’s current price.

ABM Industries Price Performance

ABM stock opened at $46.76 on Thursday. The company has a fifty day moving average price of $52.47 and a 200-day moving average price of $53.40. The company has a market capitalization of $2.91 billion, a P/E ratio of 36.82, a PEG ratio of 2.75 and a beta of 1.13. ABM Industries has a 52-week low of $41.51 and a 52-week high of $59.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts expect that ABM Industries will post 3.71 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the transaction, the chief accounting officer now owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the sale, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On ABM Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its stake in ABM Industries by 169.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 31,240 shares of the business services provider’s stock valued at $1,648,000 after acquiring an additional 19,639 shares during the period. Principal Financial Group Inc. grew its position in shares of ABM Industries by 4.9% during the third quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock worth $17,286,000 after buying an additional 15,438 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in ABM Industries by 279.4% in the third quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock valued at $5,702,000 after purchasing an additional 79,587 shares in the last quarter. MQS Management LLC acquired a new position in ABM Industries in the third quarter valued at approximately $256,000. Finally, Empowered Funds LLC purchased a new stake in ABM Industries in the third quarter valued at approximately $1,982,000. 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.