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

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

A number of other brokerages have also recently issued reports on ABM. Truist Financial raised shares of ABM Industries from a "hold" rating to a "buy" rating and boosted their target price for the company from $55.00 to $58.00 in a report on Wednesday. Robert W. Baird raised shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price on the stock in a report on Monday, June 9th. UBS Group raised shares of ABM Industries from a "neutral" rating to a "buy" rating and upped their price target for the stock from $50.00 to $54.00 in a report on Monday, June 9th. Finally, Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ABM Industries has an average rating of "Buy" and a consensus target price of $56.00.

ABM Industries Stock Performance

ABM Industries stock traded down $0.35 during trading on Friday, hitting $47.93. The stock had a trading volume of 345,528 shares, compared to its average volume of 475,876. ABM Industries has a 1 year low of $40.85 and a 1 year high of $59.78. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. The stock's 50 day moving average is $48.99 and its two-hundred day moving average is $49.80. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78.

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

Insider Transactions at ABM Industries

In other news, CEO Scott B. Salmirs sold 37,065 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $52.37, for a total value of $1,941,094.05. Following the transaction, the chief executive officer owned 369,656 shares of the company's stock, valued at approximately $19,358,884.72. This represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sean Michael Mahoney sold 1,800 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the transaction, the executive vice president owned 47,425 shares of the company's stock, valued at $2,372,672.75. This trade represents a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,085 shares of company stock valued at $2,902,227. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABM. Smartleaf Asset Management LLC grew its position in ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after acquiring an additional 595 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in ABM Industries in the fourth quarter worth $33,000. Charles Schwab Investment Management Inc. grew its position in ABM Industries by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 693,325 shares of the business services provider's stock worth $35,484,000 after acquiring an additional 12,319 shares in the last quarter. Victory Capital Management Inc. grew its position in ABM Industries by 26.3% in the fourth quarter. Victory Capital Management Inc. now owns 136,494 shares of the business services provider's stock worth $6,986,000 after acquiring an additional 28,427 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in ABM Industries in the fourth quarter worth $3,502,000. 91.62% of the stock is currently owned by hedge funds and other 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.