UBS Group Raises ABM Industries (NYSE:ABM) Price Target to $56.00

ABM Industries (NYSE:ABM) had its price objective hoisted by UBS Group from $55.00 to $56.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other analysts have also recently weighed in on the company. Truist Financial boosted their price target on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Robert W. Baird upped their target price on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th.

ABM Industries Price Performance

ABM opened at $50.34 on Thursday. The stock has a fifty day moving average price of $55.30 and a 200 day moving average price of $53.38. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries has a 1 year low of $39.64 and a 1 year high of $59.78. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 20.80 and a beta of 1.14.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. Analysts forecast that ABM Industries will post 3.53 EPS for the current fiscal year.

ABM Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be given a $0.265 dividend. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries’s payout ratio is currently 83.46%.

Insider Activity

In related news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the sale, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This trade represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.04% of the stock is owned by company insiders.

Institutional Trading of ABM Industries

Hedge funds have recently modified their holdings of the company. BOKF NA acquired a new stake in ABM Industries during the second quarter worth $30,000. Capital Performance Advisors LLP acquired a new stake in shares of ABM Industries during the 3rd quarter valued at about $30,000. Copeland Capital Management LLC acquired a new stake in ABM Industries during the third quarter valued at approximately $37,000. GAMMA Investing LLC raised its holdings in shares of ABM Industries by 58.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock worth $84,000 after buying an additional 589 shares in the last quarter. Finally, Quarry LP lifted its position in shares of ABM Industries by 49.7% during the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after buying an additional 721 shares during the period. Institutional investors own 91.62% of the company’s stock.

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.