Robert W. Baird set a $40.00 price objective on ABM Industries (NYSE:ABM) in a research note issued to investors on Saturday morning. The firm currently has a buy rating on the business services provider’s stock.
ABM has been the topic of several other research reports. Zacks Investment Research downgraded ABM Industries from a hold rating to a strong sell rating in a research report on Friday, December 15th. TheStreet downgraded ABM Industries from a b rating to a c+ rating in a research report on Friday, December 29th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $45.75.
ABM Industries (ABM) opened at $34.47 on Friday. The firm has a market capitalization of $2,293.31, a P/E ratio of 23.13 and a beta of 0.78. ABM Industries has a 1 year low of $33.29 and a 1 year high of $45.12. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.74 and a quick ratio of 1.74.
ABM Industries (NYSE:ABM) last released its earnings results on Tuesday, March 6th. The business services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. ABM Industries had a net margin of 1.55% and a return on equity of 8.33%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. sell-side analysts expect that ABM Industries will post 1.93 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 7th. Stockholders of record on Thursday, April 5th will be given a $0.175 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $0.70 annualized dividend and a dividend yield of 2.03%. ABM Industries’s dividend payout ratio (DPR) is presently 46.98%.
In related news, Director Linda Chavez sold 2,103 shares of ABM Industries stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $38.89, for a total transaction of $81,785.67. Following the transaction, the director now owns 16,557 shares in the company, valued at $643,901.73. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.81% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ABM. New York State Common Retirement Fund lifted its position in ABM Industries by 1.6% during the third quarter. New York State Common Retirement Fund now owns 123,585 shares of the business services provider’s stock worth $5,155,000 after buying an additional 1,949 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in ABM Industries by 59.3% during the third quarter. Municipal Employees Retirement System of Michigan now owns 20,890 shares of the business services provider’s stock worth $871,000 after buying an additional 7,780 shares in the last quarter. Quantbot Technologies LP purchased a new position in ABM Industries during the third quarter worth approximately $1,647,000. SG Americas Securities LLC purchased a new position in ABM Industries during the third quarter worth approximately $1,201,000. Finally, Macquarie Group Ltd. lifted its position in ABM Industries by 24.8% during the third quarter. Macquarie Group Ltd. now owns 1,090,915 shares of the business services provider’s stock worth $45,502,000 after buying an additional 216,458 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.
About ABM Industries
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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