ABM Industries (NYSE:ABM) Price Target Raised to $55.00 at UBS Group

ABM Industries (NYSE:ABM) had its price objective upped by UBS Group from $51.00 to $55.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other research analysts also recently commented on ABM. StockNews.com downgraded shares of ABM Industries from a buy rating to a hold rating in a research note on Friday, August 2nd. Robert W. Baird lifted their price target on shares of ABM Industries from $49.00 to $56.00 and gave the company a neutral rating in a report on Monday. Finally, Truist Financial lifted their target price on shares of ABM Industries from $49.00 to $55.00 and gave the company a hold rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, ABM Industries has a consensus rating of Hold and a consensus target price of $53.50.

ABM Industries Price Performance

Shares of ABM Industries stock opened at $49.91 on Monday. The firm has a market capitalization of $3.13 billion, a PE ratio of 13.07 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71. ABM Industries has a 12 month low of $38.48 and a 12 month high of $59.78. The business’s 50-day moving average price is $53.52 and its 200-day moving average price is $48.36.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.79 earnings per share. Sell-side analysts forecast that ABM Industries will post 3.49 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd 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 1.80%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Insider Transactions at ABM Industries

In other ABM Industries news, CEO Scott B. Salmirs sold 11,736 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total transaction of $646,418.88. Following the completion of the transaction, the chief executive officer now owns 366,655 shares of the company’s stock, valued at $20,195,357.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the sale, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at $20,195,357.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Rene Jacobsen sold 40,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $51.67, for a total value of $2,066,800.00. Following the transaction, the chief operating officer now owns 72,062 shares of the company’s stock, valued at $3,723,443.54. The disclosure for this sale can be found here. Insiders have sold 78,778 shares of company stock valued at $4,039,248 in the last three months. 1.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BOKF NA bought a new stake in shares of ABM Industries during the second quarter valued at approximately $30,000. Adirondack Trust Co. boosted its stake in ABM Industries by 250.0% during the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 500 shares during the last quarter. Lazard Asset Management LLC boosted its stake in ABM Industries by 2,102.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,030 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of ABM Industries by 37.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after purchasing an additional 273 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of ABM Industries in the fourth quarter worth $54,000. 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.