Weiss Ratings Reiterates "Hold (C)" Rating for ABM Industries (NYSE:ABM)

Key Points

• Weiss Ratings has reiterated a "Hold (C)" rating for ABM Industries (NYSE:ABM), signaling a cautious outlook for the stock.
• ABM Industries reported earnings of $0.82 per share for the last quarter, missing estimates, but had revenue of $2.22 billion, exceeding predictions.
• The company has authorized a $150 million stock buyback plan, indicating confidence in its stock value amid market conditions.

ABM Industries (NYSE:ABM - Get Free Report)'s stock had its "hold (c)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts also recently issued reports on the company. Robert W. Baird restated a "neutral" rating and set a $54.00 price objective (down from $56.00) on shares of ABM Industries in a research report on Monday, September 8th. Baird R W cut shares of ABM Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. UBS Group upped their price target on shares of ABM Industries from $54.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Wall Street Zen raised shares of ABM Industries from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Truist Financial upgraded shares of ABM Industries from a "hold" rating to a "buy" rating and upped their target price for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $55.67.

ABM Industries Stock Up 0.2%

Shares of NYSE ABM traded up $0.09 during mid-day trading on Wednesday, hitting $45.70. The company had a trading volume of 88,397 shares, compared to its average volume of 512,749. The company has a market capitalization of $2.80 billion, a PE ratio of 24.84 and a beta of 0.78. The business's 50-day simple moving average is $47.09 and its 200 day simple moving average is $47.74. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. ABM Industries has a 1-year low of $40.85 and a 1-year high of $59.15.

ABM Industries (NYSE:ABM - Get Free Report) last announced its earnings results on Friday, September 5th. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.13). ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company posted $0.94 EPS. ABM Industries's quarterly revenue was up 6.2% on a year-over-year basis. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. On average, analysts predict that ABM Industries will post 3.71 earnings per share for the current year.

ABM Industries declared that its board has approved a stock buyback plan on Friday, September 5th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new stake in ABM Industries during the 1st quarter valued at approximately $38,000. Federated Hermes Inc. lifted its stake in ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider's stock valued at $44,000 after acquiring an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in ABM Industries in the 1st quarter worth about $45,000. Kiker Wealth Management LLC bought a new stake in shares of ABM Industries during the second quarter valued at about $61,000. Finally, Virtus Advisers LLC purchased a new position in shares of ABM Industries during the first quarter worth about $64,000. Institutional investors own 91.62% of the company's stock.

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.

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