ABM Industries Incorporated (NYSE:ABM) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird reiterated an “outperform” rating and issued a $47.00 target price (down from $49.00) on shares of ABM Industries in a research report on Thursday, July 13th. Finally, Sidoti upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $55.00 in a research report on Thursday, July 13th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. ABM Industries has a consensus rating of “Buy” and an average price target of $48.25.

Shares of ABM Industries (NYSE ABM) traded down 0.96% on Friday, hitting $43.26. The company had a trading volume of 240,363 shares. ABM Industries has a 12-month low of $37.60 and a 12-month high of $45.12. The firm has a market capitalization of $2.41 billion, a P/E ratio of 192.27 and a beta of 0.80. The firm has a 50 day moving average of $43.07 and a 200-day moving average of $42.38.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, June 7th. The business services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. ABM Industries had a net margin of 0.25% and a return on equity of 11.44%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts predict that ABM Industries will post $1.95 EPS for the current year.

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In other ABM Industries news, insider Rene Jacobsen sold 950 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $43.95, for a total transaction of $41,752.50. Following the completion of the sale, the insider now directly owns 16,594 shares in the company, valued at $729,306.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James P. Mcclure sold 1,970 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $44.01, for a total transaction of $86,699.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,925 shares of company stock valued at $385,575. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ABM. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock valued at $105,000 after buying an additional 946 shares during the last quarter. Elkfork Partners LLC raised its stake in ABM Industries by 2.5% in the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock valued at $120,000 after buying an additional 66 shares during the last quarter. Riverhead Capital Management LLC raised its stake in ABM Industries by 60.4% in the second quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock valued at $146,000 after buying an additional 1,328 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in ABM Industries by 2.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock valued at $153,000 after buying an additional 84 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. acquired a new stake in ABM Industries during the second quarter valued at about $162,000. Institutional investors and hedge funds own 93.28% of the company’s stock.

About ABM Industries

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

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