Truist Financial Raises ABM Industries (NYSE:ABM) Price Target to $49.00

ABM Industries (NYSE:ABM) had its price target lifted by analysts at Truist Financial from $45.00 to $49.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the business services provider’s stock. Truist Financial’s price objective indicates a potential downside of 0.48% from the company’s previous close.

Several other research firms also recently commented on ABM. Robert W. Baird upped their price objective on shares of ABM Industries from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Weiss Ratings cut shares of ABM Industries from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Finally, UBS Group boosted their target price on shares of ABM Industries from $45.00 to $51.50 and gave the company a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, ABM Industries has a consensus rating of “Hold” and an average price target of $50.88.

ABM Industries Stock Performance

ABM stock traded down $0.19 during trading on Monday, reaching $49.24. The company had a trading volume of 202,985 shares, compared to its average volume of 551,199. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.37 and a beta of 0.68. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.42 and a current ratio of 1.42. ABM Industries has a twelve month low of $36.96 and a twelve month high of $51.29. The firm has a 50-day simple moving average of $47.42 and a 200-day simple moving average of $43.26.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Tuesday, September 8th. The business services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. ABM Industries had a return on equity of 12.46% and a net margin of 1.82%.The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. As a group, sell-side analysts expect that ABM Industries will post 4.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Aberdeen Wealth Management LLC acquired a new stake in ABM Industries in the second quarter valued at $25,000. IFP Advisors Inc lifted its position in ABM Industries by 183.7% in the second quarter. IFP Advisors Inc now owns 590 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 382 shares during the period. Continuum Advisory LLC acquired a new position in shares of ABM Industries during the 2nd quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its position in ABM Industries by 590.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock worth $28,000 after purchasing an additional 520 shares in the last quarter. Finally, Nykredit A S acquired a new position in ABM Industries during the second quarter worth about $36,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

About ABM Industries

ABM Industries Incorporated (NYSE: ABM) is a provider of integrated facility and workplace solutions. The company helps organizations operate and maintain their buildings and infrastructure through services that include janitorial and custodial work, engineering and maintenance, electrical and lighting solutions, HVAC services, landscaping, energy management, and facility operations.

ABM also provides specialized services for aviation, parking, education, healthcare, manufacturing, logistics, commercial real estate, sports and entertainment venues, and government facilities.