ABM Industries (NYSE:ABM) Downgraded to Hold Rating by Baird R W

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

Several other research analysts have also weighed in on ABM. Robert W. Baird reaffirmed a “neutral” rating and issued a $54.00 target price (down from $56.00) on shares of ABM Industries in a research report on Monday. UBS Group upped their target price on ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday. Wall Street Zen lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Truist Financial raised ABM Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $55.00 to $58.00 in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.67.

ABM Industries Stock Performance

Shares of ABM stock opened at $45.78 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.55. ABM Industries has a fifty-two week low of $40.85 and a fifty-two week high of $59.15. The stock’s 50-day moving average is $48.02 and its two-hundred day moving average is $48.40. The firm has a market cap of $2.80 billion, a P/E ratio of 24.88 and a beta of 0.80.

ABM Industries (NYSE:ABM) last issued its earnings results on Friday, September 5th. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.13). ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Analysts predict that ABM Industries will post 3.71 earnings per share for the current fiscal year.

ABM Industries declared that its Board of Directors has approved a share buyback plan on Friday, September 5th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy up to 5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Transactions at ABM Industries

In other news, Director Thomas M. Gartland sold 3,711 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.52, for a total transaction of $168,924.72. Following the transaction, the director owned 30,958 shares of the company’s stock, valued at approximately $1,409,208.16. This represents a 10.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Rene Jacobsen sold 17,250 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $48.03, for a total value of $828,517.50. Following the sale, the chief operating officer owned 71,256 shares of the company’s stock, valued at approximately $3,422,425.68. The trade was a 19.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of ABM Industries

Several hedge funds have recently added to or reduced their stakes in the business. State of Wyoming boosted its stake in ABM Industries by 12.1% during the 2nd quarter. State of Wyoming now owns 12,233 shares of the business services provider’s stock valued at $578,000 after purchasing an additional 1,325 shares during the period. Public Sector Pension Investment Board boosted its stake in ABM Industries by 7.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 212,108 shares of the business services provider’s stock valued at $10,014,000 after purchasing an additional 14,860 shares during the period. Headlands Technologies LLC bought a new stake in ABM Industries during the 2nd quarter valued at approximately $94,000. Tower Research Capital LLC TRC boosted its stake in ABM Industries by 200.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,657 shares of the business services provider’s stock valued at $361,000 after purchasing an additional 5,107 shares during the period. Finally, Simcoe Capital Management LLC bought a new stake in ABM Industries during the 2nd quarter valued at approximately $20,720,000. Institutional investors own 91.62% of the company’s stock.

About ABM Industries

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.