ABM Industries (NYSE:ABM) Upgraded by Baird R W to “Strong-Buy” Rating

ABM Industries (NYSE:ABM) was upgraded by equities researchers at Baird R W from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

ABM has been the subject of several other research reports. Robert W. Baird raised ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 price target for the company in a report on Monday. Wall Street Zen cut ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 31st. Finally, UBS Group raised ABM Industries from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $54.00 in a report on Monday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.00.

ABM Industries Stock Performance

Shares of ABM stock opened at $47.91 on Monday. The company has a market capitalization of $2.98 billion, a P/E ratio of 37.73, a P/E/G ratio of 2.75 and a beta of 0.83. The business’s 50 day moving average is $49.00 and its two-hundred day moving average is $51.13. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries has a 12-month low of $40.85 and a 12-month high of $59.78.

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

Insider Buying and Selling

In other ABM Industries news, EVP Sean Michael Mahoney sold 1,800 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the sale, the executive vice president now directly owns 47,425 shares of the company’s stock, valued at $2,372,672.75. This represents a 3.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott B. Salmirs sold 37,065 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $52.37, for a total value 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 approximately $19,358,884.72. This represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,374 shares of company stock valued at $2,733,303 in the last three months. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of ABM Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of ABM Industries by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 8,198,258 shares of the business services provider’s stock worth $419,587,000 after buying an additional 55,584 shares in the last quarter. Invesco Ltd. raised its stake in shares of ABM Industries by 17.8% during the 1st quarter. Invesco Ltd. now owns 1,786,926 shares of the business services provider’s stock worth $84,629,000 after buying an additional 269,410 shares in the last quarter. American Century Companies Inc. raised its stake in shares of ABM Industries by 34.4% during the 1st quarter. American Century Companies Inc. now owns 1,590,497 shares of the business services provider’s stock worth $75,326,000 after buying an additional 406,802 shares in the last quarter. LSV Asset Management raised its stake in shares of ABM Industries by 66.4% during the 1st quarter. LSV Asset Management now owns 1,386,172 shares of the business services provider’s stock worth $65,649,000 after buying an additional 553,225 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of ABM Industries during the 4th quarter worth approximately $43,967,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

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.