ABM Industries (NYSE:ABM) Stock Rating Upgraded by Robert W. Baird

ABM Industries (NYSE:ABM - Get Free Report) was upgraded by equities researchers at Robert W. Baird from a "neutral" rating to an "outperform" rating in a report issued on Monday, Marketbeat.com reports. The firm currently has a $56.00 price target on the business services provider's stock. Robert W. Baird's target price would indicate a potential upside of 20.76% from the company's current price.

A number of other brokerages have also recently issued reports on ABM. UBS Group upgraded ABM Industries from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $50.00 to $54.00 in a research note on Monday. Wall Street Zen lowered ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 31st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

ABM Industries Stock Performance

ABM Industries stock traded down $1.43 during midday trading on Monday, reaching $46.37. The stock had a trading volume of 690,207 shares, compared to its average volume of 503,375. ABM Industries has a 12 month low of $40.85 and a 12 month high of $59.78. The firm's 50-day moving average price is $49.03 and its 200 day moving average price is $51.10. The firm has a market capitalization of $2.89 billion, a PE ratio of 36.51, a P/E/G ratio of 2.75 and a beta of 0.83. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm 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 firm posted $0.87 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. As a group, research analysts predict that ABM Industries will post 3.71 earnings per share for the current fiscal year.

Insider Transactions at ABM Industries

In related news, EVP Sean Michael Mahoney sold 574 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $50.06, for a total value of $28,734.44. Following the completion of the sale, the executive vice president now owns 49,225 shares in the company, valued at $2,464,203.50. The trade was a 1.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Scott B. Salmirs sold 800 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $52.09, for a total value of $41,672.00. Following the completion of the sale, the chief executive officer now owns 418,856 shares of the company's stock, valued at $21,818,209.04. The trade was a 0.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,374 shares of company stock valued at $2,733,303. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of ABM Industries

A number of hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new stake in ABM Industries in the 1st quarter worth approximately $1,004,000. Intech Investment Management LLC lifted its position in ABM Industries by 20.6% in the first quarter. Intech Investment Management LLC now owns 65,040 shares of the business services provider's stock valued at $3,080,000 after purchasing an additional 11,108 shares during the last quarter. Focus Partners Wealth bought a new stake in ABM Industries in the first quarter valued at approximately $477,000. Jane Street Group LLC lifted its position in ABM Industries by 592.0% in the first quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider's stock valued at $6,640,000 after purchasing an additional 119,942 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in ABM Industries by 5.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,038 shares of the business services provider's stock valued at $8,527,000 after purchasing an additional 8,704 shares during the last quarter. 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.