ABM Industries (NYSE:ABM) PT Raised to $55.00

ABM Industries (NYSE:ABM) had its target price boosted by equities research analysts at Truist Financial from $49.00 to $55.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the business services provider’s stock. Truist Financial’s price target suggests a potential upside of 10.15% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Robert W. Baird lifted their target price on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday. UBS Group lifted their price target on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Friday, June 7th. Finally, StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.50.

ABM Industries Stock Performance

NYSE ABM opened at $49.93 on Monday. The firm’s 50 day simple moving average is $53.52 and its 200 day simple moving average is $48.42. The firm has a market capitalization of $3.13 billion, a price-to-earnings 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 1 year low of $38.48 and a 1 year high of $59.78.

ABM Industries (NYSE:ABM) last issued its earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 EPS. As a group, research analysts expect that ABM Industries will post 3.49 earnings per share for the current fiscal year.

Insider Transactions at ABM Industries

In other news, COO Rene Jacobsen sold 40,000 shares of ABM Industries stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $51.67, for a total value of $2,066,800.00. Following the completion of the transaction, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at approximately $3,723,443.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other ABM Industries news, COO Rene Jacobsen sold 40,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the transaction, the chief operating officer now directly owns 72,062 shares in the company, valued at approximately $3,723,443.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Dean A. Chin sold 2,042 shares of ABM Industries stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $50.70, for a total transaction of $103,529.40. Following the completion of the sale, the chief accounting officer now owns 18,493 shares of the company’s stock, valued at approximately $937,595.10. The disclosure for this sale can be found here. Insiders sold a total of 78,778 shares of company stock worth $4,039,248 over the last three months. 1.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On ABM Industries

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in ABM Industries by 136.5% during the 4th quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock worth $3,529,000 after buying an additional 45,442 shares during the period. Boston Partners increased its stake in ABM Industries by 152.2% during the 1st quarter. Boston Partners now owns 24,125 shares of the business services provider’s stock valued at $1,076,000 after purchasing an additional 14,560 shares in the last quarter. Quadrature Capital Ltd raised its holdings in ABM Industries by 203.0% during the fourth quarter. Quadrature Capital Ltd now owns 37,990 shares of the business services provider’s stock worth $1,703,000 after buying an additional 25,453 shares during the last quarter. SG Capital Management LLC bought a new position in shares of ABM Industries in the first quarter valued at $13,730,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of ABM Industries during the first quarter valued at about $481,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

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.