ABM Industries (NYSE:ABM) Sets New 1-Year High – Here’s Why

ABM Industries Incorporated (NYSE:ABM)’s stock price hit a new 52-week high during trading on Friday. The company traded as high as $54.77 and last traded at $54.3310, with a volume of 8,639 shares changing hands. The stock had previously closed at $53.93.

Analyst Ratings Changes

A number of research firms recently weighed in on ABM. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Weiss Ratings raised ABM Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Robert W. Baird increased their price target on ABM Industries from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, September 9th. Truist Financial boosted their price objective on ABM Industries from $45.00 to $49.00 and gave the company a “hold” rating in a report on Monday, September 14th. Finally, UBS Group upped their price objective on ABM Industries from $45.00 to $51.50 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.88.

ABM Industries Price Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a fifty day simple moving average of $49.58 and a 200 day simple moving average of $44.83. The company has a market capitalization of $3.17 billion, a PE ratio of 19.51, a P/E/G ratio of 1.48 and a beta of 0.64.

ABM Industries (NYSE:ABM) last issued its earnings results on Tuesday, September 8th. The business services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. ABM Industries had a net margin of 1.82% and a return on equity of 12.46%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. ABM Industries has set its FY 2026 guidance at 3.950-4.100 EPS. Equities analysts anticipate that ABM Industries Incorporated will post 4.00 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.29 per share. The ex-dividend date is Thursday, October 1st. This represents a $1.16 dividend on an annualized basis and a yield of 2.1%. ABM Industries’s dividend payout ratio is presently 41.88%.

Institutional Investors Weigh In On ABM Industries

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in ABM Industries by 21.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,443 shares of the business services provider’s stock worth $69,000 after buying an additional 254 shares during the period. IFP Advisors Inc raised its position in ABM Industries by 183.7% during the 2nd quarter. IFP Advisors Inc now owns 590 shares of the business services provider’s stock worth $26,000 after buying an additional 382 shares during the last quarter. Versant Capital Management Inc lifted its stake in ABM Industries by 24.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,316 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 458 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in ABM Industries by 8.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,482 shares of the business services provider’s stock valued at $287,000 after acquiring an additional 490 shares during the period. Finally, Choreo LLC increased its stake in shares of ABM Industries by 9.3% in the third quarter. Choreo LLC now owns 6,059 shares of the business services provider’s stock worth $291,000 after acquiring an additional 517 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

About ABM Industries

ABM Industries Incorporated (NYSE: ABM) is a provider of facility, aviation and transportation, and infrastructure solutions for commercial, industrial, institutional and public-sector customers. The company helps organizations operate and maintain their properties through services that include janitorial and custodial work, facility engineering, HVAC and electrical support, parking and transportation management, landscaping, and security-related solutions.

ABM also provides specialized services for airports, education and healthcare institutions, manufacturing and distribution facilities, data centers, sports and entertainment venues, and other complex environments.