ABM Industries (NYSE:ABM) Stock Rating Upgraded by Wall Street Zen

ABM Industries (NYSE:ABM) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other research firms have also weighed in on ABM. UBS Group upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and raised their price objective for the company from $50.00 to $54.00 in a research note on Monday, June 9th. Robert W. Baird raised shares of ABM Industries from a “neutral” rating to an “outperform” rating and set a $56.00 price target on the stock in a report on Monday, June 9th. Baird R W raised shares of ABM Industries from a “hold” rating to a “strong-buy” rating in a report on Monday, June 9th. Finally, Truist Financial upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and raised their target price for the stock from $55.00 to $58.00 in a report on Wednesday. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $56.00.

ABM Industries Stock Down 0.7%

Shares of ABM Industries stock opened at $47.93 on Friday. ABM Industries has a 1 year low of $40.85 and a 1 year high of $59.78. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 38.65, a PEG ratio of 2.48 and a beta of 0.78. The company has a 50-day moving average of $48.99 and a 200 day moving average of $49.80. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.55.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). ABM Industries had a return on equity of 12.54% and a net margin of 0.93%. The company had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that ABM Industries will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Sean Michael Mahoney sold 1,800 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total value of $90,054.00. Following the completion of the sale, the executive vice president directly owned 47,425 shares of the company’s stock, valued at $2,372,672.75. This represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott B. Salmirs sold 37,065 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 369,656 shares in the company, valued at $19,358,884.72. The trade was a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,085 shares of company stock worth $2,902,227 over the last quarter. 0.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in shares of ABM Industries during the first quarter valued at approximately $1,004,000. Intech Investment Management LLC increased its holdings in shares of ABM Industries by 20.6% in the first quarter. Intech Investment Management LLC now owns 65,040 shares of the business services provider’s stock worth $3,080,000 after purchasing an additional 11,108 shares during the last quarter. Focus Partners Wealth bought a new position in ABM Industries during the first quarter valued at approximately $477,000. Jane Street Group LLC grew its holdings in ABM Industries by 592.0% during the 1st quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider’s stock valued at $6,640,000 after buying an additional 119,942 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of ABM Industries by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,038 shares of the business services provider’s stock worth $8,527,000 after acquiring an additional 8,704 shares in the last quarter. 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.