Analysts at Truist Financial started coverage on shares of ABM Industries (NYSE:ABM – Get Free Report) in a research note issued on Monday, MarketBeat reports. The brokerage set a “hold” rating and a $43.00 price target on the business services provider’s stock. Truist Financial’s price target indicates a potential upside of 3.32% from the stock’s current price.
ABM has been the topic of several other research reports. Robert W. Baird cut their price objective on shares of ABM Industries from $52.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, September 8th. Deutsche Bank Aktiengesellschaft lowered shares of ABM Industries from a “buy” rating to a “hold” rating and dropped their price target for the company from $65.00 to $43.00 in a research report on Friday, September 8th. UBS Group dropped their price target on shares of ABM Industries from $50.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, September 8th. StockNews.com assumed coverage on shares of ABM Industries in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, KeyCorp dropped their target price on shares of ABM Industries from $51.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, September 11th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $43.20.
View Our Latest Stock Report on ABM Industries
ABM Industries Price Performance
NYSE ABM opened at $41.62 on Monday. ABM Industries has a 1 year low of $37.61 and a 1 year high of $49.58. The stock’s 50-day moving average price is $40.61 and its two-hundred day moving average price is $42.82. The company has a market cap of $2.73 billion, a PE ratio of 11.69 and a beta of 1.11. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.69.
ABM Industries (NYSE:ABM – Get Free Report) last announced its earnings results on Thursday, September 7th. The business services provider reported $0.79 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.09). ABM Industries had a return on equity of 12.69% and a net margin of 2.96%. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that ABM Industries will post 3.41 EPS for the current year.
Insider Activity
In related news, COO Rene Jacobsen sold 6,341 shares of ABM Industries stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $44.00, for a total value of $279,004.00. Following the completion of the transaction, the chief operating officer now directly owns 59,059 shares of the company’s stock, valued at $2,598,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is owned by corporate insiders.
Institutional Trading of ABM Industries
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bleakley Financial Group LLC boosted its position in ABM Industries by 5.4% during the 1st quarter. Bleakley Financial Group LLC now owns 78,223 shares of the business services provider’s stock worth $3,515,000 after acquiring an additional 3,999 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of ABM Industries by 4.3% in the 1st quarter. Rhumbline Advisers now owns 221,847 shares of the business services provider’s stock valued at $9,970,000 after buying an additional 9,156 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of ABM Industries by 33.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 59,276 shares of the business services provider’s stock valued at $2,664,000 after buying an additional 14,803 shares during the last quarter. Strs Ohio bought a new stake in ABM Industries in the 2nd quarter valued at $899,000. Finally, Inceptionr LLC bought a new stake in ABM Industries in the 1st quarter valued at $893,000. 86.42% of the stock is owned by institutional investors.
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. The company operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.
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Source: defenseworld.net
