ABM Industries Inc. (ABM) Reaches New 1-Year High at $38.66
ABM Industries Inc. (NYSE:ABM) hit a new 52-week high on Thursday . The company traded as high as $38.66 and last traded at $38.66, with a volume of 148,212 shares changing hands. The stock had previously closed at $38.43.
A number of equities research analysts have recently weighed in on the company. Robert W. Baird reiterated an “outperform” rating and issued a $40.00 price target on shares of ABM Industries in a report on Wednesday. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “sell” rating in a report on Tuesday, August 9th. Finally, Imperial Capital boosted their price target on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. ABM Industries currently has a consensus rating of “Hold” and a consensus price target of C$28.80.
The company has a market capitalization of $2.16 billion and a price-to-earnings ratio of 37.75. The stock’s 50-day moving average price is $37.59 and its 200-day moving average price is $34.36.
ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, June 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.04. During the same period in the previous year, the business posted $0.37 EPS. The company had revenue of $1.26 billion for the quarter. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts forecast that ABM Industries Inc. will post $1.60 earnings per share for the current fiscal year.
In related news, CAO Dean A. Chin sold 1,642 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of C$35.71, for a total transaction of C$58,635.82. Following the completion of the sale, the chief accounting officer now owns 17,740 shares in the company, valued at approximately C$633,495.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas J. Marano sold 25,725 shares of the stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of C$36.91, for a total value of C$949,509.75. Following the sale, the insider now owns 15,288 shares of the company’s stock, valued at approximately C$564,280.08. The disclosure for this sale can be found here.
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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