ABM Industries Inc. (ABM) Shares Gap Up to $37.61
ABM Industries Inc. (NYSE:ABM)’s share price gapped up before the market opened 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 changing hands.
Several equities analysts have recently weighed in on ABM shares. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. Imperial Capital boosted their target price on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of C$27.30.
The company’s 50-day moving average is $36.90 and its 200 day moving average is $33.47. The firm has a market cap of $2.13 billion and a P/E ratio of 37.12.
ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, June 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $1.26 billion for the quarter. During the same quarter in the prior year, the company earned $0.37 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect 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, CAO Dean A. Chin sold 848 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of C$34.00, for a total value of C$28,832.00. Following the transaction, the chief accounting officer now owns 19,613 shares in the company, valued at C$666,842. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott J. Giacobbe sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of C$36.86, for a total value of C$184,300.00. Following the completion of the transaction, the insider now owns 37,807 shares in the company, valued at approximately C$1,393,566.02. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in ABM. Rhumbline Advisers increased its position in ABM Industries by 1.6% in the fourth quarter. Rhumbline Advisers now owns 105,756 shares of the company’s stock valued at $3,011,000 after buying an additional 1,625 shares during the period. Comerica Bank increased its position in ABM Industries by 1.4% in the fourth quarter. Comerica Bank now owns 57,590 shares of the company’s stock valued at $1,531,000 after buying an additional 797 shares during the period. Victory Capital Management Inc. increased its position in ABM Industries by 11.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,252,536 shares of the company’s stock valued at $35,660,000 after buying an additional 132,650 shares during the period. Suntrust Banks Inc. increased its position in ABM Industries by 8.2% in the fourth quarter. Suntrust Banks Inc. now owns 75,110 shares of the company’s stock valued at $2,138,000 after buying an additional 5,701 shares during the period. Finally, Trexquant Investment LP increased its position in ABM Industries by 394.1% in the fourth quarter. Trexquant Investment LP now owns 84,000 shares of the company’s stock valued at $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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