Published On: Sat, Sep 10th, 2016

Robert W. Baird Reiterates “Outperform” Rating for ABM Industries Inc. (ABM)

Robert W. Baird reiterated their outperform rating on shares of ABM Industries Inc. (NYSE:ABM) in a report published on Saturday morning. The brokerage currently has a $44.00 target price on the stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of ABM Industries from a buy rating to a sell rating in a report on Tuesday, August 9th. Imperial Capital lifted their price target on shares of ABM Industries from $33.00 to $38.00 and gave the stock a hold rating in a report on Thursday, June 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of C$32.05.
ABM Industries (NYSE:ABM) opened at 38.58 on Friday. The stock’s 50 day moving average price is $37.93 and its 200 day moving average price is $34.66. ABM Industries has a 12-month low of $26.50 and a 12-month high of $40.47. The company has a market capitalization of $2.16 billion, a PE ratio of 37.68 and a beta of 0.78.

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ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, September 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.14. The company earned $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. ABM Industries had a net margin of 1.73% and a return on equity of 10.15%. ABM Industries’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, equities analysts anticipate that ABM Industries will post $1.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Thursday, October 6th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, October 4th. ABM Industries’s dividend payout ratio is currently 42.58%.
In other ABM Industries news, insider Thomas J. Marano sold 25,725 shares of ABM Industries stock in a transaction on Monday, June 13th. The shares were sold at an average price of C$36.91, for a total value of C$949,509.75. Following the transaction, the insider now directly owns 15,288 shares of the company’s stock, valued at C$564,280.08. 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 13,700 shares of ABM Industries stock in a transaction on Thursday, September 8th. The stock was sold at an average price of C$39.33, for a total transaction of C$538,821.00. Following the completion of the transaction, the insider now directly owns 33,383 shares in the company, valued at C$1,312,953.39. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Creative Planning raised its position in ABM Industries by 3.7% in the second quarter. Creative Planning now owns 14,310 shares of the company’s stock valued at $522,000 after buying an additional 510 shares in the last quarter. Arizona State Retirement System raised its stake in shares of ABM Industries by 2.1% in the first quarter. Arizona State Retirement System now owns 28,638 shares of the company’s stock worth $925,000 after buying an additional 600 shares during the period. Baker Ellis Asset Management LLC raised its stake in shares of ABM Industries by 4.8% in the first quarter. Baker Ellis Asset Management LLC now owns 14,250 shares of the company’s stock worth $460,000 after buying an additional 650 shares during the period. Ramsey Quantitative Systems raised its stake in shares of ABM Industries by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 22,205 shares of the company’s stock worth $717,000 after buying an additional 1,151 shares during the period. Finally, BlackRock Inc. raised its stake in shares of 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 period. 90.65% of the stock is currently owned by institutional investors and hedge funds.
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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