ABM Industries, Inc. (ABM) Receives Average Recommendation of “Buy” from Analysts

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Shares of ABM Industries, Inc. (NYSE:ABM) have been given a consensus recommendation of “Buy” by the seven analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $47.67.

ABM has been the topic of several recent research reports. ValuEngine lowered ABM Industries from a “sell” rating to a “strong sell” rating in a report on Friday, June 1st. Robert W. Baird set a $40.00 price target on ABM Industries and gave the stock a “buy” rating in a report on Saturday, March 17th. Finally, Zacks Investment Research upgraded ABM Industries from a “sell” rating to a “hold” rating in a report on Tuesday, May 8th.

In other news, COO Scott J. Giacobbe sold 3,342 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $30.90, for a total value of $103,267.80. Following the transaction, the chief operating officer now owns 62,186 shares in the company, valued at $1,921,547.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of ABM. UBS Group AG lifted its holdings in shares of ABM Industries by 15,328.1% in the first quarter. UBS Group AG now owns 3,711,083 shares of the business services provider’s stock valued at $124,248,000 after purchasing an additional 3,687,029 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of ABM Industries by 10.8% in the first quarter. BlackRock Inc. now owns 7,866,728 shares of the business services provider’s stock valued at $263,377,000 after purchasing an additional 768,679 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of ABM Industries by 4.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,438,303 shares of the business services provider’s stock valued at $242,853,000 after purchasing an additional 299,019 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of ABM Industries by 130.8% in the first quarter. The Manufacturers Life Insurance Company now owns 357,175 shares of the business services provider’s stock valued at $11,958,000 after purchasing an additional 202,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of ABM Industries by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,753,419 shares of the business services provider’s stock valued at $92,184,000 after purchasing an additional 173,229 shares in the last quarter. Institutional investors own 99.15% of the company’s stock.

ABM Industries opened at $30.07 on Friday, according to MarketBeat. ABM Industries has a one year low of $28.17 and a one year high of $45.12. The company has a market cap of $1.97 billion, a P/E ratio of 17.18 and a beta of 0.81. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.76.

ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, June 6th. The business services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. ABM Industries had a return on equity of 7.79% and a net margin of 1.40%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The firm’s revenue was up 20.6% on a year-over-year basis. research analysts predict that ABM Industries will post 1.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 6th. Shareholders of record on Thursday, July 5th will be issued a $0.175 dividend. The ex-dividend date is Tuesday, July 3rd. This represents a $0.70 annualized dividend and a yield of 2.33%. ABM Industries’s payout ratio is currently 40.00%.

About ABM Industries

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.

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