ABM Industries (NYSE:ABM) Reaches New 12-Month High - Here's What Happened

Key Points

• ABM Industries shares reached a new 52-week high of $54.77 during Friday trading, up from a prior close of $53.93.
• Analyst sentiment remains mixed, with two Buy ratings and three Hold ratings; the average price target is $50.88, below the current share price.
• ABM reported quarterly EPS of $1.04, beating estimates by $0.03, while revenue rose 4.2% year over year to $2.32 billion. The company also declared a quarterly dividend of $0.29 per share, representing a 2.1% yield.

ABM Industries Incorporated (NYSE:ABM - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday. The company traded as high as $54.77 and last traded at $54.3310, with a volume of 8,639 shares trading hands. The stock had previously closed at $53.93.

Analyst Upgrades and Downgrades

ABM has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of ABM Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, October 13th. Truist Financial increased their price objective on ABM Industries from $45.00 to $49.00 and gave the company a "hold" rating in a research report on Monday, September 14th. Wall Street Zen upgraded ABM Industries from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. Robert W. Baird increased their price target on shares of ABM Industries from $48.00 to $53.00 and gave the company a "neutral" rating in a research report on Wednesday, September 9th. Finally, UBS Group lifted their price target on shares of ABM Industries from $45.00 to $51.50 and gave the stock a "neutral" rating in a research note on Wednesday, September 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, ABM Industries currently has an average rating of "Hold" and an average price target of $50.88.

ABM Industries Stock Up 0.1%

The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $3.17 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.48 and a beta of 0.64. The company's fifty day simple moving average is $49.58 and its 200 day simple moving average is $44.83.

ABM Industries (NYSE:ABM - Get Free Report) last announced its earnings results on Tuesday, September 8th. The business services provider reported $1.04 EPS for the quarter, beating 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 in the previous year, the business posted $0.82 EPS. The company's quarterly 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. Analysts anticipate that ABM Industries Incorporated will post 4.00 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently disclosed 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. This represents a $1.16 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, October 1st. ABM Industries's dividend payout ratio (DPR) is 41.88%.

Institutional Investors Weigh In On ABM Industries

A number of institutional investors have recently modified their holdings of ABM. Pacer Advisors Inc. bought a new position in shares of ABM Industries during the 1st quarter valued at about $12,739,000. Quantinno Capital Management LP lifted its position in shares of ABM Industries by 86.3% in the first quarter. Quantinno Capital Management LP now owns 54,790 shares of the business services provider's stock worth $2,111,000 after buying an additional 25,388 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of ABM Industries in the second quarter worth about $410,948,000. Louisiana State Employees Retirement System bought a new position in ABM Industries during the first quarter valued at approximately $1,002,000. Finally, The Manufacturers Life Insurance Company bought a new position in ABM Industries during the second quarter valued at approximately $1,187,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

About ABM Industries

ABM Industries Incorporated NYSE: ABM is a provider of facility, aviation and transportation, and infrastructure solutions for commercial, industrial, institutional and public-sector customers. The company helps organizations operate and maintain their properties through services that include janitorial and custodial work, facility engineering, HVAC and electrical support, parking and transportation management, landscaping, and security-related solutions.

ABM also provides specialized services for airports, education and healthcare institutions, manufacturing and distribution facilities, data centers, sports and entertainment venues, and other complex environments.

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