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

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

Other analysts also recently issued reports about the stock. Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Robert W. Baird raised shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price target on the stock in a report on Monday, June 9th. Truist Financial raised shares of ABM Industries from a "hold" rating to a "buy" rating and increased their price target for the stock from $55.00 to $58.00 in a report on Wednesday, July 2nd. Finally, UBS Group raised shares of ABM Industries from a "neutral" rating to a "buy" rating and increased their price target for the stock from $50.00 to $54.00 in a report on Monday, June 9th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $56.00.

ABM Industries Stock Down 1.2%

Shares of NYSE:ABM traded down $0.56 during trading hours on Friday, hitting $47.66. The company's stock had a trading volume of 507,154 shares, compared to its average volume of 478,629. ABM Industries has a 52 week low of $40.85 and a 52 week high of $59.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 38.44, a P/E/G ratio of 2.49 and a beta of 0.78. The firm's fifty day moving average price is $48.96 and its 200 day moving average price is $49.75.

ABM Industries (NYSE:ABM - Get Free Report) last posted its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.07 billion. ABM Industries had a return on equity of 12.54% and a net margin of 0.93%. The company's revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 EPS. As a group, research analysts expect that ABM Industries will post 3.71 EPS for the current year.

Insider Buying and Selling

In other news, Director Thomas M. Gartland sold 3,711 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $45.52, for a total value of $168,924.72. Following the completion of the sale, the director directly owned 30,958 shares in the company, valued at $1,409,208.16. This represents a 10.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sean Michael Mahoney sold 1,800 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total transaction of $90,054.00. Following the sale, the executive vice president owned 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. Over the last three months, insiders have sold 56,085 shares of company stock valued at $2,902,227. Corporate insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On ABM Industries

A number of institutional investors have recently made changes to their positions in ABM. Royal Bank of Canada boosted its position in ABM Industries by 0.4% in the 1st quarter. Royal Bank of Canada now owns 86,571 shares of the business services provider's stock valued at $4,100,000 after buying an additional 312 shares during the period. Summit Investment Advisors Inc. boosted its position in ABM Industries by 5.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,615 shares of the business services provider's stock valued at $339,000 after buying an additional 329 shares during the period. Envestnet Asset Management Inc. boosted its position in ABM Industries by 2.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 12,801 shares of the business services provider's stock valued at $655,000 after buying an additional 347 shares during the period. HighTower Advisors LLC boosted its position in ABM Industries by 1.8% in the 1st quarter. HighTower Advisors LLC now owns 20,398 shares of the business services provider's stock valued at $966,000 after buying an additional 362 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of ABM Industries by 6.3% during the 1st quarter. Cetera Investment Advisers now owns 7,264 shares of the business services provider's stock worth $344,000 after purchasing an additional 430 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

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.