Analysts Set ABM Industries, Inc. (ABM) Price Target at $37.00

ABM Industries, Inc. (NYSE:ABM) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $37.00.

Several research firms recently weighed in on ABM. CL King lowered ABM Industries from a “buy” rating to a “neutral” rating in a research note on Friday. Zacks Investment Research raised ABM Industries from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. Robert W. Baird reduced their price objective on ABM Industries from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 19th. TheStreet lowered ABM Industries from a “b” rating to a “c+” rating in a research note on Tuesday, December 11th. Finally, Sidoti reduced their price objective on ABM Industries from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Tuesday, December 11th.

In other news, SVP Dean A. Chin sold 3,024 shares of the firm’s stock in a transaction dated Friday, November 30th. The stock was sold at an average price of $31.20, for a total transaction of $94,348.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda Chavez sold 3,000 shares of ABM Industries stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $34.62, for a total value of $103,860.00. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Sei Investments Co. boosted its position in ABM Industries by 5,402.1% in the second quarter. Sei Investments Co. now owns 23,989 shares of the business services provider’s stock worth $700,000 after purchasing an additional 23,553 shares during the last quarter. SG Americas Securities LLC boosted its holdings in ABM Industries by 51.9% during the 2nd quarter. SG Americas Securities LLC now owns 5,490 shares of the business services provider’s stock valued at $160,000 after acquiring an additional 1,875 shares during the period. Schwab Charles Investment Management Inc. raised its position in ABM Industries by 23.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 398,931 shares of the business services provider’s stock valued at $11,641,000 after purchasing an additional 75,070 shares during the last quarter. GSA Capital Partners LLP bought a new position in ABM Industries during the 2nd quarter valued at approximately $296,000. Finally, BlackRock Inc. raised its position in ABM Industries by 17.8% during the 2nd quarter. BlackRock Inc. now owns 9,269,022 shares of the business services provider’s stock valued at $270,471,000 after purchasing an additional 1,402,294 shares during the last quarter.

ABM opened at $34.28 on Friday. The firm has a market cap of $2.31 billion, a PE ratio of 18.14 and a beta of 0.58. ABM Industries has a 52-week low of $25.64 and a 52-week high of $40.00. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.62.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Tuesday, December 18th. The business services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.65 billion. ABM Industries had a return on equity of 8.70% and a net margin of 1.52%. During the same period last year, the firm posted $0.37 earnings per share. Equities analysts forecast that ABM Industries will post 1.97 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 4th. Investors of record on Thursday, January 3rd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, January 2nd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a yield of 2.10%. ABM Industries’s dividend payout ratio (DPR) is 38.10%.

ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.

Further Reading: Asset Allocation, Balancing Your Investments

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