ABM Industries (NYSE:ABM) Rating Increased to Buy at Wall Street Zen

ABM Industries (NYSE:ABM - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

ABM has been the topic of several other research reports. UBS Group increased their target price on ABM Industries from $54.00 to $55.00 and gave the company a "buy" rating in a report on Monday, September 8th. Weiss Ratings restated a "hold (c)" rating on shares of ABM Industries in a research note on Saturday, September 27th. Robert W. Baird restated a "neutral" rating and issued a $54.00 price objective (down previously from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Truist Financial upgraded shares of ABM Industries from a "hold" rating to a "buy" rating and upped their price objective for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Finally, Baird R W downgraded shares of ABM Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $55.67.

ABM Industries Stock Up 0.3%

ABM Industries stock opened at $46.59 on Friday. ABM Industries has a twelve month low of $40.85 and a twelve month high of $59.15. The stock's fifty day simple moving average is $47.14 and its 200-day simple moving average is $47.76. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $2.85 billion, a P/E ratio of 25.32 and a beta of 0.78.

ABM Industries (NYSE:ABM - Get Free Report) last posted its quarterly earnings data on Friday, September 5th. The business services provider reported $0.82 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.13). The company had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.16 billion. ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The firm's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. As a group, equities analysts expect that ABM Industries will post 3.71 earnings per share for the current fiscal year.

ABM Industries announced that its Board of Directors has authorized a stock repurchase program on Friday, September 5th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the business services provider to buy up to 5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at ABM Industries

In other news, COO Rene Jacobsen sold 17,250 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $48.03, for a total transaction of $828,517.50. Following the completion of the sale, the chief operating officer owned 71,256 shares in the company, valued at approximately $3,422,425.68. This represents a 19.49% 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. Company insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in ABM Industries by 1.6% during the second quarter. Invesco Ltd. now owns 1,815,590 shares of the business services provider's stock worth $85,714,000 after purchasing an additional 28,664 shares in the last quarter. American Century Companies Inc. raised its holdings in ABM Industries by 1.5% during the second quarter. American Century Companies Inc. now owns 1,615,135 shares of the business services provider's stock worth $76,251,000 after purchasing an additional 24,638 shares in the last quarter. Geode Capital Management LLC raised its holdings in ABM Industries by 0.7% during the second quarter. Geode Capital Management LLC now owns 1,502,219 shares of the business services provider's stock worth $70,928,000 after purchasing an additional 10,182 shares in the last quarter. LSV Asset Management raised its holdings in ABM Industries by 1.2% during the second quarter. LSV Asset Management now owns 1,402,702 shares of the business services provider's stock worth $66,222,000 after purchasing an additional 16,530 shares in the last quarter. Finally, Pzena Investment Management LLC raised its holdings in ABM Industries by 13.5% during the second quarter. Pzena Investment Management LLC now owns 963,943 shares of the business services provider's stock worth $45,508,000 after purchasing an additional 114,485 shares in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

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.

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