ABM Industries (NYSE:ABM) Hits New 1-Year High - What's Next?

Key Points

• ABM Industries shares reached a new 52-week high of $51.62, trading above their 50-day and 200-day moving averages. The stock has a market capitalization of approximately $3.03 billion.
• Analyst sentiment remains mixed: two analysts rate ABM a Buy and three rate it Hold, producing an overall Hold rating and an average price target of $50.88, slightly below the recent trading price.
• ABM exceeded quarterly earnings expectations with EPS of $1.04 versus the $1.01 consensus, while revenue rose 4.2% year over year. The company also declared a quarterly dividend of $0.29 per share, yielding about 2.2% annually.

ABM Industries Incorporated (NYSE:ABM - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $51.62 and last traded at $51.7460, with a volume of 11,262 shares changing hands. The stock had previously closed at $50.64.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABM shares. Weiss Ratings upgraded shares of ABM Industries from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday. Wall Street Zen raised shares of ABM Industries from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. 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. Truist Financial boosted their target price on ABM Industries from $45.00 to $49.00 and gave the company a "hold" rating in a research report on Monday, September 14th. Finally, UBS Group upped their price objective on shares of ABM Industries from $45.00 to $51.50 and gave the stock a "neutral" rating in a report on Wednesday, September 9th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $50.88.

ABM Industries Price Performance

The business has a 50 day moving average price of $48.52 and a two-hundred day moving average price of $44.64. The stock has a market cap of $3.03 billion, a PE ratio of 18.67, a P/E/G ratio of 1.41 and a beta of 0.64. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.42 and a current ratio of 1.42.

ABM Industries (NYSE:ABM - Get Free Report) last released its earnings results on Tuesday, September 8th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.32 billion. ABM Industries had a return on equity of 12.46% and a net margin of 1.82%. ABM Industries's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. Research analysts expect that ABM Industries Incorporated will post 4.00 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.16 annualized dividend and a yield of 2.2%. ABM Industries's dividend payout ratio is presently 41.88%.

Institutional Trading of ABM Industries

Several hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in ABM Industries by 21.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,443 shares of the business services provider's stock worth $69,000 after purchasing an additional 254 shares during the period. IFP Advisors Inc boosted its stake in shares of ABM Industries by 183.7% during the second quarter. IFP Advisors Inc now owns 590 shares of the business services provider's stock valued at $26,000 after purchasing an additional 382 shares during the period. Versant Capital Management Inc increased its stake in shares of ABM Industries by 24.7% in the second quarter. Versant Capital Management Inc now owns 2,316 shares of the business services provider's stock worth $102,000 after buying an additional 458 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of ABM Industries by 8.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 6,482 shares of the business services provider's stock worth $287,000 after buying an additional 490 shares during the period. Finally, Fortitude Family Office LLC raised its holdings in ABM Industries by 1,451.4% during the 3rd quarter. Fortitude Family Office LLC now owns 574 shares of the business services provider's stock valued at $28,000 after buying an additional 537 shares during the last quarter. 91.62% of the stock is currently 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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