Published On: Sat, Sep 10th, 2016

ABM Industries’ (ABM) “Outperform” Rating Reiterated at Robert W. Baird

ABM Industries Inc. (NYSE:ABM)‘s stock had its “outperform” rating reiterated by Robert W. Baird in a report issued on Saturday. They currently have a $44.00 price objective on the stock.
A number of other equities analysts have also issued reports on the company. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “sell” rating in a research note on Tuesday, August 9th. Imperial Capital increased their price target on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$32.05.
Shares of ABM Industries (NYSE:ABM) opened at 38.58 on Friday. ABM Industries has a 12 month low of $26.50 and a 12 month high of $40.47. The stock has a 50 day moving average price of $37.93 and a 200-day moving average price of $34.66. The stock has a market cap of $2.16 billion, a P/E ratio of 37.68 and a beta of 0.78.

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ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.14. The firm earned $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. On average, analysts forecast that ABM Industries will post $1.60 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, October 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.71%. ABM Industries’s dividend payout ratio (DPR) is presently 42.58%.
In other news, insider Scott J. Giacobbe sold 13,700 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of C$39.33, for a total value of C$538,821.00. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at C$1,312,953.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott J. Giacobbe sold 1,300 shares of the stock in a transaction on Friday, September 2nd. The shares were sold at an average price of C$39.02, for a total value of C$50,726.00. Following the completion of the sale, the insider now owns 34,183 shares of the company’s stock, valued at approximately C$1,333,820.66. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Other hedge funds have added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in ABM Industries by 0.8% in the first quarter. BlackRock Fund Advisors now owns 3,543,162 shares of the company’s stock worth $114,480,000 after buying an additional 29,711 shares during the last quarter. Prudential Financial Inc. raised its stake in ABM Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 134,362 shares of the company’s stock worth $4,341,000 after buying an additional 3,600 shares during the last quarter. BlackRock Inc. raised its stake in ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock worth $170,000 after buying an additional 1,591 shares during the last quarter. Norges Bank acquired a new stake in ABM Industries during the fourth quarter worth about $15,596,000. Finally, Bayesian Capital Management LP acquired a new stake in ABM Industries during the first quarter worth about $204,000. Institutional investors own 90.65% of the company’s stock.
ABM Industries Company Profile
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.

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