ABM Industries Inc. (ABM) Shares Gap Up to $37.61
Shares of ABM Industries Inc. (NYSE:ABM) gapped up prior to trading on Thursday . The stock had previously closed at $37.58, but opened at $37.61. ABM Industries shares last traded at $37.74, with a volume of 37,575 shares trading hands.
Several research firms have recently weighed in on ABM. Zacks Investment Research lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. Imperial Capital lifted their price objective on shares of ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. ABM Industries has a consensus rating of “Hold” and a consensus target price of C$27.30.
The firm has a market capitalization of $2.13 billion and a price-to-earnings ratio of 37.12. The company’s 50 day moving average price is $36.90 and its 200 day moving average price is $33.47.
ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, June 8th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $1.26 billion for the quarter. ABM Industries’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS. Equities research analysts forecast that ABM Industries Inc. will post $1.60 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Thursday, July 7th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.74%.
In other news, EVP Sarah H. Mcconnell sold 10,400 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of C$37.03, for a total transaction of C$385,112.00. Following the completion of the sale, the executive vice president now owns 76,666 shares of the company’s stock, valued at C$2,838,941.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Dean A. Chin sold 848 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of C$34.00, for a total value of C$28,832.00. Following the sale, the chief accounting officer now directly owns 19,613 shares of the company’s stock, valued at approximately C$666,842. The disclosure for this sale can be found here.
Other hedge funds recently added to or reduced their stakes in the company. Comerica Bank raised its stake in ABM Industries by 1.4% in the fourth quarter. Comerica Bank now owns 57,590 shares of the company’s stock worth $1,531,000 after buying an additional 797 shares during the period. Rhumbline Advisers raised its stake in ABM Industries by 1.6% in the fourth quarter. Rhumbline Advisers now owns 105,756 shares of the company’s stock worth $3,011,000 after buying an additional 1,625 shares during the period. Suntrust Banks Inc. raised its stake in ABM Industries by 8.2% in the fourth quarter. Suntrust Banks Inc. now owns 75,110 shares of the company’s stock worth $2,138,000 after buying an additional 5,701 shares during the period. State of Tennessee Treasury Department raised its stake in ABM Industries by 112.6% in the fourth quarter. State of Tennessee Treasury Department now owns 81,640 shares of the company’s stock worth $2,324,000 after buying an additional 43,240 shares during the period. Finally, Trexquant Investment LP raised its stake in ABM Industries by 394.1% in the fourth quarter. Trexquant Investment LP now owns 84,000 shares of the company’s stock worth $2,391,000 after buying an additional 67,000 shares during the period.
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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