Maxim Group set a $45.00 target price on ABM Industries (NYSE:ABM) in a report released on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the business services provider’s stock.
Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded ABM Industries from a hold rating to a sell rating in a research note on Monday, April 8th. KeyCorp began coverage on ABM Industries in a research note on Friday, April 5th. They set a sector weight rating and a $36.83 target price on the stock. Robert W. Baird set a $37.00 target price on ABM Industries and gave the company a hold rating in a research note on Thursday, March 7th. Finally, TheStreet raised ABM Industries from a c+ rating to a b- rating in a research note on Wednesday, January 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. ABM Industries has an average rating of Hold and a consensus price target of $40.46.
NYSE ABM opened at $37.49 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 1.54. ABM Industries has a 52 week low of $25.64 and a 52 week high of $37.67. The stock has a market capitalization of $2.45 billion, a PE ratio of 19.84 and a beta of 0.56.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 38.10%.
In other ABM Industries news, COO Scott J. Giacobbe sold 7,143 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $36.90, for a total transaction of $263,576.70. Following the completion of the transaction, the chief operating officer now owns 76,545 shares in the company, valued at approximately $2,824,510.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Diego Anthony Scaglione sold 2,857 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $36.31, for a total value of $103,737.67. The disclosure for this sale can be found here. Insiders have sold a total of 12,856 shares of company stock worth $473,872 in the last three months. 0.94% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Command Bank purchased a new position in ABM Industries during the 4th quarter valued at approximately $27,000. First Command Financial Services Inc. purchased a new position in shares of ABM Industries in the 4th quarter worth approximately $27,000. Captrust Financial Advisors boosted its holdings in ABM Industries by 164.7% during the 4th quarter. Captrust Financial Advisors now owns 863 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 537 shares during the period. Parkside Financial Bank & Trust boosted its holdings in ABM Industries by 47.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,017 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 328 shares during the period. Finally, Quantamental Technologies LLC purchased a new position in ABM Industries during the 4th quarter valued at $46,000.
About ABM Industries
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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