ABM Industries Incorporated (NYSE:ABM) Receives Average Recommendation of “Hold” from Brokerages

ABM Industries Incorporated (NYSE:ABM) has received a consensus rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $48.80.

A number of research analysts have recently commented on ABM shares. StockNews.com raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. UBS Group upped their price target on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. Finally, Robert W. Baird increased their price target on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a research note on Monday, June 10th.

ABM Industries Trading Down 0.8 %

NYSE:ABM opened at $50.16 on Tuesday. ABM Industries has a 52-week low of $37.61 and a 52-week high of $53.05. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $47.62 and a 200-day simple moving average of $44.48. The company has a market capitalization of $3.15 billion, a PE ratio of 13.13 and a beta of 1.16.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. ABM Industries’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. On average, equities research analysts expect that ABM Industries will post 3.47 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, July 5th. This represents a $0.90 annualized dividend and a dividend yield of 1.79%. ABM Industries’s payout ratio is 23.56%.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the transaction, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,063,115. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ABM. SG Capital Management LLC bought a new stake in shares of ABM Industries during the first quarter valued at approximately $13,730,000. Boston Partners boosted its position in ABM Industries by 152.2% during the 1st quarter. Boston Partners now owns 24,125 shares of the business services provider’s stock worth $1,076,000 after acquiring an additional 14,560 shares during the period. Burney Co. grew its stake in shares of ABM Industries by 5.2% in the first quarter. Burney Co. now owns 15,195 shares of the business services provider’s stock worth $678,000 after purchasing an additional 748 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of ABM Industries during the first quarter valued at $220,000. Finally, Invenomic Capital Management LP bought a new stake in shares of ABM Industries during the first quarter valued at about $10,071,000. 91.62% of the stock is currently 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.