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

Key Points

• Wall Street Zen upgraded ABM Industries from “hold” to “buy,” although the broader analyst consensus remains “Hold,” with one Buy rating and four Hold ratings.
• Other brokerages raised their price targets to between $49 and $53, while the consensus target price stands at $50.88 compared with the shares’ $49.69 opening price.
• ABM exceeded quarterly earnings expectations, reporting $1.04 EPS versus $1.01 expected, while revenue rose 4.2% year over year to $2.32 billion; institutional investors own 91.62% of the stock.

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

Several other brokerages also recently issued reports on ABM. UBS Group raised their price target on ABM Industries from $45.00 to $51.50 and gave the stock a "neutral" rating in a report on Wednesday, September 9th. Weiss Ratings upgraded ABM Industries from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, September 28th. Truist Financial increased their target price on ABM Industries from $45.00 to $49.00 and gave the stock a "hold" rating in a research report on Monday, September 14th. Finally, Robert W. Baird raised their target price on ABM Industries from $48.00 to $53.00 and gave the company a "neutral" rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $50.88.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $49.69 on Friday. The company has a market cap of $2.91 billion, a PE ratio of 17.94, a P/E/G ratio of 1.39 and a beta of 0.64. ABM Industries has a fifty-two week low of $36.96 and a fifty-two week high of $51.29. The firm has a 50-day simple moving average of $48.43 and a 200 day simple moving average of $44.33. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.97.

ABM Industries (NYSE:ABM - Get Free Report) last issued its earnings results on Tuesday, September 8th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.03. ABM Industries had a net margin of 1.82% and a return on equity of 12.46%. The firm had revenue of $2.32 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter last year, the company posted $0.82 earnings per share. ABM Industries's revenue was up 4.2% on a year-over-year basis. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. On average, sell-side analysts anticipate that ABM Industries will post 4.00 EPS for the current year.

Hedge Funds Weigh In On ABM Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in ABM Industries during the 2nd quarter worth $410,948,000. Dimensional Fund Advisors LP increased its holdings in shares of ABM Industries by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,076,047 shares of the business services provider's stock valued at $157,007,000 after purchasing an additional 24,213 shares during the period. Pzena Investment Management LLC acquired a new position in shares of ABM Industries during the second quarter valued at $79,995,000. Invenomic Capital Management LP raised its stake in shares of ABM Industries by 25.9% during the fourth quarter. Invenomic Capital Management LP now owns 629,452 shares of the business services provider's stock valued at $26,626,000 after purchasing an additional 129,614 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of ABM Industries during the second quarter valued at about $24,486,000. 91.62% of the stock is owned by institutional investors.

About ABM Industries

ABM Industries Incorporated NYSE: ABM is a provider of integrated facility and workplace solutions. The company helps organizations operate, maintain and improve their buildings and infrastructure through services that include janitorial and custodial work, facilities engineering, HVAC and mechanical services, parking and transportation management, security, landscaping, and energy and sustainability solutions.

ABM serves a broad range of end markets, including commercial real estate, aviation, education, healthcare, manufacturing, technology, government and sports and entertainment facilities.

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