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

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for ABM Industries, while other firms have issued mixed ratings, with some upgrading to "buy".
• ABM Industries recently initiated a $150 million share repurchase plan, indicating management believes the stock is undervalued.
• For the last quarter, ABM Industries reported $0.82 EPS, missing expectations, but achieved a revenue of $2.22 billion, surpassing analyst estimates.

ABM Industries (NYSE:ABM - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

ABM has been the subject of several other reports. Wall Street Zen raised ABM Industries from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Robert W. Baird reaffirmed a "neutral" rating and set a $54.00 price objective (down from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Truist Financial raised ABM Industries from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $55.00 to $58.00 in a research note on Wednesday, July 2nd. UBS Group lifted their price objective on ABM Industries from $54.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. Finally, Baird R W cut ABM Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $55.67.

ABM Industries Trading Up 0.5%

Shares of NYSE ABM traded up $0.24 during midday trading on Friday, hitting $45.73. The stock had a trading volume of 169,215 shares, compared to its average volume of 508,656. The company's 50-day simple moving average is $46.57 and its 200 day simple moving average is $47.58. The firm has a market cap of $2.80 billion, a P/E ratio of 24.86 and a beta of 0.78. ABM Industries has a fifty-two week low of $40.85 and a fifty-two week high of $59.15. 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 (NYSE:ABM - Get Free Report) last released its earnings results on Friday, September 5th. The business services provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.13). The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.16 billion. ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The firm's quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $0.94 earnings per share. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Research analysts anticipate that ABM Industries will post 3.71 EPS for the current year.

ABM Industries declared that its board has initiated a share repurchase plan on Friday, September 5th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its stake in ABM Industries by 18.0% in the second quarter. Parkside Financial Bank & Trust now owns 1,612 shares of the business services provider's stock valued at $76,000 after acquiring an additional 246 shares during the period. Naples Global Advisors LLC grew its stake in ABM Industries by 2.7% in the second quarter. Naples Global Advisors LLC now owns 11,370 shares of the business services provider's stock valued at $537,000 after acquiring an additional 304 shares during the period. Royal Bank of Canada grew its stake in ABM Industries by 0.4% in the first quarter. Royal Bank of Canada now owns 86,571 shares of the business services provider's stock valued at $4,100,000 after acquiring an additional 312 shares during the period. HighTower Advisors LLC grew its stake in ABM Industries by 1.8% in the first quarter. HighTower Advisors LLC now owns 20,398 shares of the business services provider's stock valued at $966,000 after acquiring an additional 362 shares during the period. Finally, Brighton Jones LLC grew its stake in ABM Industries by 5.3% in the second quarter. Brighton Jones LLC now owns 7,344 shares of the business services provider's stock valued at $347,000 after acquiring an additional 371 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Company Profile

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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