ABM Industries (NYSE:ABM) Raised to “Outperform” at Robert W. Baird

ABM Industries (NYSE:ABM) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Monday, Marketbeat Ratings reports. The brokerage presently has a $56.00 target price on the business services provider’s stock. Robert W. Baird’s price target points to a potential upside of 16.88% from the company’s previous close.

A number of other brokerages have also commented on ABM. Wall Street Zen lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 31st. UBS Group raised shares of ABM Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $50.00 to $54.00 in a report on Monday. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.00.

ABM Industries Price Performance

Shares of ABM opened at $47.91 on Monday. The firm has a market capitalization of $2.98 billion, a PE ratio of 37.73, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. ABM Industries has a 1-year low of $40.85 and a 1-year high of $59.78. The company’s fifty day moving average price is $49.00 and its 200-day moving average price is $51.13.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.07 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 EPS. On average, equities research analysts predict that ABM Industries will post 3.71 EPS for the current year.

Insider Transactions at ABM Industries

In other news, CEO Scott B. Salmirs sold 37,065 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $52.37, for a total transaction of $1,941,094.05. Following the sale, the chief executive officer now directly owns 369,656 shares of the company’s stock, valued at $19,358,884.72. This represents a 9.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sean Michael Mahoney sold 574 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $50.06, for a total transaction of $28,734.44. Following the sale, the executive vice president now directly owns 49,225 shares in the company, valued at approximately $2,464,203.50. The trade was a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,374 shares of company stock worth $2,733,303 over the last quarter. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ABM Industries

Hedge funds have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new position in ABM Industries during the fourth quarter worth approximately $33,000. Summit Securities Group LLC purchased a new position in shares of ABM Industries during the 1st quarter valued at approximately $38,000. Federated Hermes Inc. lifted its position in shares of ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock valued at $44,000 after buying an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of ABM Industries during the 1st quarter valued at approximately $45,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after buying an additional 595 shares in the last quarter. Hedge funds and other institutional investors 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.