ABM Industries (NYSE:ABM) Price Target Lowered to $50.00 at UBS Group

ABM Industries (NYSE:ABM - Get Free Report) had its target price dropped by research analysts at UBS Group from $56.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the business services provider's stock. UBS Group's target price indicates a potential upside of 9.75% from the stock's current price.

ABM Industries Price Performance

NYSE ABM traded up $0.05 during trading hours on Thursday, hitting $45.56. 129,266 shares of the company's stock traded hands, compared to its average volume of 472,728. The company has a market capitalization of $2.83 billion, a PE ratio of 35.89, a PEG ratio of 2.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. ABM Industries has a 52-week low of $41.51 and a 52-week high of $59.78. The firm's 50-day moving average is $52.55 and its 200-day moving average is $53.45.

ABM Industries (NYSE:ABM - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the business earned $1.01 earnings per share. The business's revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that ABM Industries will post 3.71 EPS for the current fiscal year.

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the sale, the chief operating officer now owns 87,808 shares of the company's stock, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of the company's stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,681 shares in the company, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On ABM Industries

Hedge funds have recently made changes to their positions in the stock. Foundry Partners LLC lifted its holdings in ABM Industries by 694.2% during the 3rd quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider's stock worth $4,583,000 after buying an additional 75,930 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of ABM Industries in the fourth quarter valued at $392,000. Citigroup Inc. boosted its holdings in ABM Industries by 51.3% in the third quarter. Citigroup Inc. now owns 101,006 shares of the business services provider's stock valued at $5,329,000 after purchasing an additional 34,254 shares during the period. Jane Street Group LLC grew its stake in ABM Industries by 91.8% during the 3rd quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider's stock worth $4,331,000 after purchasing an additional 39,300 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in ABM Industries by 138.3% during the 3rd quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider's stock worth $1,362,000 after purchasing an additional 14,977 shares in the last quarter. Hedge funds and other 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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