ABM Industries (NYSE:ABM) Upgraded by Baird R W to Strong-Buy Rating

ABM Industries (NYSE:ABM - Get Free Report) was upgraded by stock analysts at Baird R W from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird raised shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price for the company in a research report on Monday. Wall Street Zen downgraded shares of ABM Industries from a "buy" rating to a "hold" rating in a research note on Saturday, May 31st. Finally, UBS Group upgraded shares of ABM Industries from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $50.00 to $54.00 in a report on Monday. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ABM Industries currently has an average rating of "Moderate Buy" and an average target price of $55.00.

ABM Industries Trading Down 0.7%

NYSE:ABM traded down $0.34 during mid-day trading on Monday, reaching $47.91. 761,317 shares of the company's stock traded hands, compared to its average volume of 503,744. The company has a 50 day moving average price of $48.97 and a 200-day moving average price of $51.15. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 37.73, a PEG ratio of 2.75 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. ABM Industries has a 12-month low of $40.85 and a 12-month high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the business posted $0.87 earnings per share. ABM Industries's quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts predict that ABM Industries will post 3.71 earnings per share for the current year.

Insider Buying and Selling

In other ABM Industries news, EVP Sean Michael Mahoney sold 574 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $50.06, for a total value of $28,734.44. Following the sale, the executive vice president now owns 49,225 shares in the company, valued at approximately $2,464,203.50. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott B. Salmirs sold 12,135 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $52.06, for a total value of $631,748.10. Following the completion of the transaction, the chief executive officer now owns 406,721 shares of the company's stock, valued at $21,173,895.26. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,374 shares of company stock worth $2,733,303 in the last three months. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ABM Industries

Several hedge funds and other institutional investors have recently modified their holdings of ABM. Sei Investments Co. increased its position in ABM Industries by 321.3% during the fourth quarter. Sei Investments Co. now owns 153,193 shares of the business services provider's stock valued at $7,840,000 after acquiring an additional 116,827 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of ABM Industries by 23.1% during the 4th quarter. Wells Fargo & Company MN now owns 42,103 shares of the business services provider's stock valued at $2,155,000 after purchasing an additional 7,904 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of ABM Industries by 2.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 138,889 shares of the business services provider's stock valued at $7,108,000 after purchasing an additional 3,804 shares during the period. Deutsche Bank AG increased its position in shares of ABM Industries by 40.8% during the 4th quarter. Deutsche Bank AG now owns 60,678 shares of the business services provider's stock valued at $3,106,000 after purchasing an additional 17,584 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of ABM Industries in the 4th quarter worth approximately $3,502,000. 91.62% 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. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.