ABM Industries (NYSE:ABM) Shares Gap Up – Here’s Why

ABM Industries Incorporated (NYSE:ABM) gapped up prior to trading on Wednesday . The stock had previously closed at $45.74, but opened at $47.78. ABM Industries shares last traded at $48.3390, with a volume of 200,359 shares.

Analyst Upgrades and Downgrades

ABM has been the subject of several analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $54.00 price objective (down previously from $56.00) on shares of ABM Industries in a report on Monday, September 8th. Wall Street Zen lowered ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “hold (c)” rating on shares of ABM Industries in a report on Wednesday, October 8th. UBS Group boosted their price target on ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Finally, Baird R W downgraded shares of ABM Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.67.

ABM Industries Price Performance

The stock has a 50 day moving average of $43.85 and a 200-day moving average of $46.05. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $2.89 billion, a PE ratio of 25.65 and a beta of 0.74.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Wednesday, December 17th. The business services provider reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.22). ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. ABM Industries has set its FY 2026 guidance at 3.850-4.15 EPS. Equities analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries declared that its Board of Directors has authorized a stock buyback program on Friday, September 5th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy up to 5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Institutional Trading of ABM Industries

Several large investors have recently made changes to their positions in ABM. Parkside Financial Bank & Trust grew its stake in ABM Industries by 18.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,612 shares of the business services provider’s stock worth $76,000 after purchasing an additional 246 shares in the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of ABM Industries by 2.3% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 11,022 shares of the business services provider’s stock valued at $508,000 after buying an additional 247 shares during the period. PNC Financial Services Group Inc. grew its position in shares of ABM Industries by 4.0% during the third quarter. PNC Financial Services Group Inc. now owns 6,506 shares of the business services provider’s stock worth $300,000 after buying an additional 248 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of ABM Industries by 4.2% during the third quarter. Mackenzie Financial Corp now owns 6,442 shares of the business services provider’s stock worth $297,000 after buying an additional 259 shares during the period. Finally, Arizona State Retirement System raised its holdings in ABM Industries by 1.4% in the third quarter. Arizona State Retirement System now owns 18,422 shares of the business services provider’s stock valued at $850,000 after acquiring an additional 260 shares in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Company Profile

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.