UBS Group Forecasts Strong Price Appreciation for ABM Industries (NYSE:ABM) Stock

ABM Industries (NYSE:ABM - Free Report) had its price target increased by UBS Group from $55.00 to $56.00 in a report published on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the business services provider's stock.

Other analysts have also recently issued research reports about the company. Robert W. Baird increased their price objective on ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. Truist Financial raised their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, September 9th.

ABM Industries Stock Performance

Shares of ABM traded up $0.82 during mid-day trading on Thursday, hitting $51.14. The stock had a trading volume of 657,956 shares, compared to its average volume of 531,939. The firm has a market cap of $3.21 billion, a P/E ratio of 21.13 and a beta of 1.14. The business has a fifty day moving average price of $55.38 and a 200-day moving average price of $53.33. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. ABM Industries has a 52 week low of $39.64 and a 52 week high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The company's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. On average, equities research analysts expect that ABM Industries will post 3.53 EPS for the current year.

ABM Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.265 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.06 annualized dividend and a dividend yield of 2.07%. This is a boost from ABM Industries's previous quarterly dividend of $0.23. ABM Industries's dividend payout ratio (DPR) is presently 43.80%.

Insiders Place Their Bets

In other news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. This represents a 46.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.04% of the company's stock.

Institutional Trading of ABM Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Foundry Partners LLC grew its stake in shares of ABM Industries by 694.2% during the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider's stock valued at $4,583,000 after buying an additional 75,930 shares during the last quarter. Citigroup Inc. increased its stake in ABM Industries by 51.3% in the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider's stock worth $5,329,000 after purchasing an additional 34,254 shares during the period. Algert Global LLC boosted its stake in shares of ABM Industries by 50.8% during the second quarter. Algert Global LLC now owns 200,497 shares of the business services provider's stock valued at $10,139,000 after purchasing an additional 67,560 shares during the period. Jane Street Group LLC grew its holdings in shares of ABM Industries by 91.8% in the third 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 during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of ABM Industries by 138.3% in the third quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider's stock worth $1,362,000 after buying an additional 14,977 shares during the period. 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.