ValuEngine Upgrades ABM Industries (ABM) to “Sell”

ValuEngine upgraded shares of ABM Industries (NYSE:ABM) from a strong sell rating to a sell rating in a research note released on Thursday morning.

Several other research analysts have also recently issued reports on ABM. Robert W. Baird set a $40.00 price target on ABM Industries and gave the stock a buy rating in a research note on Saturday, March 17th. Zacks Investment Research cut ABM Industries from a buy rating to a strong sell rating in a research note on Tuesday, March 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $42.67.

ABM Industries opened at $31.38 on Thursday, MarketBeat.com reports. ABM Industries has a 1 year low of $28.17 and a 1 year high of $45.12. The firm has a market capitalization of $2.06 billion, a PE ratio of 17.93 and a beta of 0.81. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.76.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, June 6th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. ABM Industries had a return on equity of 7.79% and a net margin of 1.40%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. sell-side analysts predict that ABM Industries will post 1.88 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 6th. Stockholders of record on Thursday, July 5th will be paid a $0.175 dividend. The ex-dividend date is Tuesday, July 3rd. This represents a $0.70 annualized dividend and a dividend yield of 2.23%. ABM Industries’s payout ratio is 40.00%.

In other news, COO Scott J. Giacobbe sold 3,342 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $30.90, for a total value of $103,267.80. Following the completion of the transaction, the chief operating officer now owns 62,186 shares of the company’s stock, valued at $1,921,547.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in ABM. UBS Group AG boosted its stake in ABM Industries by 15,328.1% during the first quarter. UBS Group AG now owns 3,711,083 shares of the business services provider’s stock valued at $124,248,000 after buying an additional 3,687,029 shares in the last quarter. BlackRock Inc. boosted its stake in ABM Industries by 10.8% during the first quarter. BlackRock Inc. now owns 7,866,728 shares of the business services provider’s stock valued at $263,377,000 after buying an additional 768,679 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in ABM Industries by 130.8% during the first quarter. The Manufacturers Life Insurance Company now owns 357,175 shares of the business services provider’s stock valued at $11,958,000 after buying an additional 202,421 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ABM Industries by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,753,419 shares of the business services provider’s stock valued at $92,184,000 after buying an additional 173,229 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new position in ABM Industries during the first quarter valued at about $5,224,000. 99.15% of the stock is owned by institutional investors and hedge funds.

ABM Industries Company Profile

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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