ABM Industries (NYSE:ABM) Upgraded by UBS Group to Buy Rating

ABM Industries (NYSE:ABM - Get Free Report) was upgraded by equities researchers at UBS Group from a "neutral" rating to a "buy" rating in a research note issued to investors on Monday, Marketbeat reports. The firm presently has a $54.00 target price on the business services provider's stock. UBS Group's price target would suggest a potential upside of 15.90% from the stock's current price.

Separately, Wall Street Zen lowered shares of ABM Industries from a "buy" rating to a "hold" rating in a research note on Saturday, May 31st.

ABM Industries Stock Down 9.1%

NYSE ABM opened at $46.59 on Monday. The stock's 50 day moving average is $48.99 and its two-hundred day moving average is $51.21. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.75 and a beta of 0.83. ABM Industries has a 1-year low of $40.85 and a 1-year high of $59.78.

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

Insider Activity

In related news, CEO Scott B. Salmirs sold 800 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $52.09, for a total value of $41,672.00. Following the transaction, the chief executive officer now owns 418,856 shares in the company, valued at approximately $21,818,209.04. This represents a 0.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sean Michael Mahoney sold 1,800 shares of ABM Industries stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total value of $90,054.00. Following the sale, the executive vice president now directly owns 47,425 shares of the company's stock, valued at approximately $2,372,672.75. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,374 shares of company stock valued at $2,733,303 in the last quarter. Company insiders own 0.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of ABM Industries by 2,322.1% in the 4th quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider's stock valued at $60,582,000 after purchasing an additional 1,134,825 shares in the last quarter. Norges Bank acquired a new position in shares of ABM Industries during the fourth quarter worth $43,967,000. Boston Partners grew its position in shares of ABM Industries by 2,129.6% in the 1st quarter. Boston Partners now owns 641,351 shares of the business services provider's stock valued at $30,367,000 after buying an additional 612,586 shares during the last quarter. LSV Asset Management increased its stake in shares of ABM Industries by 66.4% in the first quarter. LSV Asset Management now owns 1,386,172 shares of the business services provider's stock valued at $65,649,000 after buying an additional 553,225 shares during the period. Finally, Nuveen LLC bought a new position in shares of ABM Industries during the first quarter worth about $24,941,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.