ABM Industries (NYSE:ABM) Lifted to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of ABM Industries (NYSE:ABMGet Rating) from a neutral rating to an outperform rating in a research note released on Tuesday morning, MarketBeat Ratings reports. They currently have $50.00 target price on the business services provider’s stock.

Other equities analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ABM Industries from $62.00 to $65.00 in a report on Wednesday, April 20th. StockNews.com downgraded shares of ABM Industries from a buy rating to a hold rating in a research report on Monday, June 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $56.67.

ABM stock opened at $42.03 on Tuesday. The stock’s 50 day simple moving average is $46.28 and its 200 day simple moving average is $44.60. The stock has a market capitalization of $2.81 billion, a PE ratio of 19.73 and a beta of 1.10. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.59. ABM Industries has a 12-month low of $38.08 and a 12-month high of $54.00.

ABM Industries (NYSE:ABMGet Rating) last posted its quarterly earnings data on Wednesday, June 8th. The business services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. ABM Industries had a return on equity of 14.99% and a net margin of 2.06%. The firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $0.82 EPS. ABM Industries’s revenue was up 26.9% on a year-over-year basis. On average, research analysts predict that ABM Industries will post 3.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Thursday, July 7th will be issued a dividend of $0.195 per share. The ex-dividend date is Wednesday, July 6th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.86%. ABM Industries’s dividend payout ratio (DPR) is presently 36.62%.

In related news, EVP Andrea R. Newborn sold 8,619 shares of the business’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $49.35, for a total value of $425,347.65. Following the completion of the sale, the executive vice president now directly owns 40,976 shares in the company, valued at $2,022,165.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Joshua H. Feinberg bought 6,330 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was bought at an average price of $39.16 per share, with a total value of $247,882.80. Following the completion of the acquisition, the executive vice president now owns 63,048 shares of the company’s stock, valued at approximately $2,468,959.68. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 13,385 shares of company stock valued at $651,974. Insiders own 0.54% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ABM. Invesco Ltd. lifted its position in ABM Industries by 52.2% during the third quarter. Invesco Ltd. now owns 435,769 shares of the business services provider’s stock valued at $19,614,000 after buying an additional 149,487 shares in the last quarter. Tudor Investment Corp Et Al lifted its position in ABM Industries by 187.3% during the third quarter. Tudor Investment Corp Et Al now owns 64,402 shares of the business services provider’s stock valued at $2,899,000 after buying an additional 41,984 shares in the last quarter. Two Sigma Advisers LP lifted its position in ABM Industries by 66.5% during the third quarter. Two Sigma Advisers LP now owns 12,200 shares of the business services provider’s stock valued at $549,000 after buying an additional 4,874 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in ABM Industries by 102.5% during the third quarter. BNP Paribas Arbitrage SA now owns 76,008 shares of the business services provider’s stock valued at $3,421,000 after buying an additional 38,473 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its position in ABM Industries by 6.4% during the third quarter. Personal CFO Solutions LLC now owns 4,982 shares of the business services provider’s stock valued at $224,000 after buying an additional 300 shares in the last quarter. 94.65% of the stock is currently owned by hedge funds and other institutional investors.

About ABM Industries (Get Rating)

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

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Analyst Recommendations for ABM Industries (NYSE:ABM)

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