UBS Group Issues Positive Forecast for ABM Industries (NYSE:ABM) Stock Price

ABM Industries (NYSE:ABM) had its price objective lifted by research analysts at UBS Group from $55.00 to $56.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. UBS Group’s price target indicates a potential upside of 11.29% from the stock’s current price.

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

ABM Industries Price Performance

Shares of ABM Industries stock opened at $50.32 on Thursday. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 20.79 and a beta of 1.14. The company has a fifty day moving average of $55.38 and a 200-day moving average of $53.33. ABM Industries has a 52-week low of $39.64 and a 52-week high of $59.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts expect that ABM Industries will post 3.53 EPS for the current year.

Insider Buying and Selling at ABM Industries

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in shares of ABM Industries in the second quarter valued at about $125,118,000. Geode Capital Management LLC lifted its holdings in ABM Industries by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider’s stock worth $76,582,000 after purchasing an additional 7,050 shares in the last quarter. LSV Asset Management lifted its holdings in ABM Industries by 92.3% in the 2nd quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock worth $38,449,000 after purchasing an additional 364,879 shares in the last quarter. Pzena Investment Management LLC boosted its stake in ABM Industries by 67.0% in the 3rd quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider’s stock worth $36,640,000 after purchasing an additional 278,575 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in ABM Industries by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 681,006 shares of the business services provider’s stock valued at $35,930,000 after buying an additional 12,179 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

About ABM Industries

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.