ABM Industries (NYSE:ABM) Raised to Buy at UBS Group

UBS Group upgraded shares of ABM Industries (NYSE:ABM) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. UBS Group currently has $54.00 target price on the business services provider’s stock, up from their prior target price of $50.00.

Separately, Wall Street Zen downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 31st. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ABM Industries currently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

ABM Industries Stock Down 3.0%

Shares of ABM Industries stock opened at $46.37 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The company has a 50-day moving average of $49.03 and a 200 day moving average of $51.10. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 2.75 and a beta of 0.83. ABM Industries has a 1 year low of $40.85 and a 1 year high of $59.78.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.01). ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that ABM Industries will post 3.71 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.29%. ABM Industries’s payout ratio is 85.48%.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, CEO Scott B. Salmirs sold 37,065 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $52.37, for a total value of $1,941,094.05. Following the transaction, the chief executive officer now directly owns 369,656 shares in the company, valued at $19,358,884.72. This represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sean Michael Mahoney sold 574 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $50.06, for a total transaction of $28,734.44. Following the completion of the transaction, the executive vice president now owns 49,225 shares in the company, valued at $2,464,203.50. This represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,374 shares of company stock valued at $2,733,303 over the last 90 days. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On ABM Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio acquired a new stake in ABM Industries in the first quarter valued at $1,004,000. Intech Investment Management LLC raised its stake in shares of ABM Industries by 20.6% during the 1st quarter. Intech Investment Management LLC now owns 65,040 shares of the business services provider’s stock worth $3,080,000 after buying an additional 11,108 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of ABM Industries during the 1st quarter worth $477,000. Jane Street Group LLC raised its stake in shares of ABM Industries by 592.0% during the 1st quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider’s stock worth $6,640,000 after buying an additional 119,942 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of ABM Industries by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,038 shares of the business services provider’s stock worth $8,527,000 after buying an additional 8,704 shares during the last quarter. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Company Profile

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.