UBS Group Forecasts Strong Price Appreciation for ABM Industries (NYSE:ABM) Stock

ABM Industries (NYSE:ABM) had its target price increased by analysts at UBS Group from $55.00 to $56.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. UBS Group’s target price indicates a potential upside of 11.24% from the stock’s current price.

ABM has been the subject of a number of other research reports. Truist Financial increased their target price on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, September 9th. Robert W. Baird increased their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, September 9th.

ABM Industries Stock Performance

ABM opened at $50.34 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $55.30 and its 200-day moving average is $53.34. The stock has a market cap of $3.16 billion, a PE ratio of 20.80 and a beta of 1.14. ABM Industries has a twelve month low of $39.64 and a twelve month high of $59.78.

ABM Industries (NYSE:ABM) last announced its 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 return on equity of 12.93% and a net margin of 1.89%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that ABM Industries will post 3.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.04% of the stock is owned by company insiders.

Institutional Trading of ABM Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BOKF NA bought a new position in shares of ABM Industries in the second quarter valued at $30,000. Capital Performance Advisors LLP acquired a new position in shares of ABM Industries in the 3rd quarter worth $30,000. Copeland Capital Management LLC acquired a new stake in shares of ABM Industries during the third quarter worth $37,000. GAMMA Investing LLC lifted its holdings in shares of ABM Industries by 58.8% during the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after purchasing an additional 589 shares during the last quarter. Finally, Quarry LP boosted its position in shares of ABM Industries by 49.7% in the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock valued at $115,000 after purchasing an additional 721 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

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.