ABM Industries (NYSE:ABM) Sets New 52-Week High – Still a Buy?

ABM Industries Incorporated (NYSE:ABM)’s share price reached a new 52-week high during trading on Thursday. The company traded as high as $55.70 and last traded at $55.41, with a volume of 10,157 shares. The stock had previously closed at $53.62.

Analysts Set New Price Targets

A number of research analysts have recently commented on ABM shares. Truist Financial upped their price target on ABM Industries from $45.00 to $49.00 and gave the stock a “hold” rating in a report on Monday, September 14th. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. UBS Group increased their target price on shares of ABM Industries from $45.00 to $51.50 and gave the company a “neutral” rating in a research note on Wednesday, September 9th. Robert W. Baird lifted their target price on ABM Industries from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. Finally, Weiss Ratings raised ABM Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.88.

ABM Industries Stock Up 1.5%

The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.42 and a current ratio of 1.42. The firm’s 50-day moving average is $50.15 and its two-hundred day moving average is $45.02. The stock has a market cap of $3.25 billion, a P/E ratio of 20.05, a PEG ratio of 1.39 and a beta of 0.66.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Tuesday, September 8th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.03. ABM Industries had a net margin of 1.82% and a return on equity of 12.46%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period last year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. On average, equities research analysts anticipate that ABM Industries Incorporated will post 4.00 earnings per share for the current year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 1st were given a $0.29 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $1.16 dividend on an annualized basis and a yield of 2.1%. ABM Industries’s dividend payout ratio (DPR) is 41.88%.

Institutional Investors Weigh In On ABM Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of ABM Industries during the 2nd quarter worth approximately $410,948,000. Pzena Investment Management LLC bought a new position in shares of ABM Industries during the second quarter worth approximately $79,995,000. Bank of America Corp DE bought a new position in ABM Industries during the 2nd quarter worth $24,486,000. William Blair Investment Management LLC acquired a new position in ABM Industries in the second quarter valued at about $17,044,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of ABM Industries in the 2nd quarter valued at $16,043,000. Institutional investors own 91.62% of the company’s stock.

ABM Industries Company Profile

ABM Industries Incorporated (NYSE: ABM) is a provider of facility, aviation and transportation, and infrastructure solutions for commercial, industrial, institutional and public-sector customers. The company helps organizations operate and maintain their properties through services that include janitorial and custodial work, facility engineering, HVAC and electrical support, parking and transportation management, landscaping, and security-related solutions.

ABM also provides specialized services for airports, education and healthcare institutions, manufacturing and distribution facilities, data centers, sports and entertainment venues, and other complex environments.