ABM Industries, Inc. (NYSE:ABM) Given Consensus Recommendation of “Hold” by Brokerages

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Shares of ABM Industries, Inc. (NYSE:ABM) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $41.71.

A number of equities research analysts have recently commented on ABM shares. Zacks Investment Research upgraded shares of ABM Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. Maxim Group reiterated a “buy” rating and issued a $50.00 target price on shares of ABM Industries in a research report on Friday, July 19th. Finally, ValuEngine cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Thursday.

NYSE:ABM opened at $40.69 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.50. The business’s fifty day moving average is $40.68. The firm has a market capitalization of $2.73 billion, a PE ratio of 21.29 and a beta of 0.62. ABM Industries has a fifty-two week low of $25.64 and a fifty-two week high of $42.67.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, June 5th. The business services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.06. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. ABM Industries had a net margin of 1.33% and a return on equity of 8.82%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. Equities research analysts predict that ABM Industries will post 2.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Wednesday, July 3rd. ABM Industries’s dividend payout ratio (DPR) is 38.10%.

In related news, CFO Diego Anthony Scaglione sold 1,876 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $41.47, for a total transaction of $77,797.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Chavez sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the director now owns 21,070 shares of the company’s stock, valued at $842,800. The disclosure for this sale can be found here. Insiders sold 15,575 shares of company stock valued at $636,613 over the last quarter. Company insiders own 0.94% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC purchased a new position in ABM Industries during the second quarter worth about $1,120,000. Swiss National Bank boosted its stake in ABM Industries by 2.7% during the second quarter. Swiss National Bank now owns 123,200 shares of the business services provider’s stock worth $4,928,000 after buying an additional 3,200 shares during the period. Aperio Group LLC boosted its stake in ABM Industries by 1.5% during the second quarter. Aperio Group LLC now owns 46,677 shares of the business services provider’s stock worth $1,867,000 after buying an additional 703 shares during the period. KBC Group NV purchased a new position in ABM Industries during the second quarter worth about $553,000. Finally, Alpha Windward LLC purchased a new position in ABM Industries during the second quarter worth about $506,000.

ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.

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Analyst Recommendations for ABM Industries (NYSE:ABM)

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