ABM Industries Incorporated (NYSE:ABM) Receives $48.80 Consensus Target Price from Analysts

Shares of ABM Industries Incorporated (NYSE:ABM) have earned a consensus rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $48.80.

Several research firms recently issued reports on ABM. Robert W. Baird raised their target price on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, June 10th. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Friday. Finally, UBS Group raised their price target on shares of ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, June 7th.

Insider Activity

In other news, COO Rene Jacobsen sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the sale, the chief operating officer now owns 72,062 shares in the company, valued at $3,723,443.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Rene Jacobsen sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the sale, the chief operating officer now owns 72,062 shares in the company, valued at $3,723,443.54. 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 25,000 shares of ABM Industries stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the sale, the chief executive officer now owns 378,391 shares in the company, valued at approximately $18,503,319.90. The disclosure for this sale can be found here. Insiders have sold 78,778 shares of company stock worth $4,039,248 over the last 90 days. Company insiders own 1.04% of the company’s stock.

Institutional Trading of ABM Industries

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in shares of ABM Industries during the fourth quarter worth approximately $25,000. SRS Capital Advisors Inc. grew its position in shares of ABM Industries by 323.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock worth $30,000 after buying an additional 511 shares in the last quarter. Adirondack Trust Co. grew its position in shares of ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after buying an additional 500 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of ABM Industries by 2,102.0% during the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after buying an additional 1,030 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in shares of ABM Industries during the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of ABM opened at $54.75 on Friday. The company has a market capitalization of $3.44 billion, a PE ratio of 14.33 and a beta of 1.16. ABM Industries has a 52-week low of $37.61 and a 52-week high of $56.30. The company has a 50-day simple moving average of $50.88 and a 200-day simple moving average of $45.80. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Equities research analysts predict that ABM Industries will post 3.46 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.64%. ABM Industries’s dividend payout ratio is currently 23.56%.

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.