ABM Industries (NYSE:ABM) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of ABM Industries (NYSE:ABM) from a hold rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

ABM has been the topic of several other research reports. Weiss Ratings upgraded shares of ABM Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, September 28th. Robert W. Baird lifted their price objective on ABM Industries from $48.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, September 9th. Truist Financial upped their target price on ABM Industries from $45.00 to $49.00 and gave the stock a “hold” rating in a report on Monday, September 14th. Finally, UBS Group increased their target price on ABM Industries from $45.00 to $51.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $50.88.

ABM Industries Stock Performance

NYSE:ABM opened at $49.69 on Friday. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.38 and a beta of 0.64. The business has a 50 day moving average of $48.43 and a 200 day moving average of $44.33. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 1.42. ABM Industries has a 1-year low of $36.96 and a 1-year high of $51.29.

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

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, October 1st. ABM Industries’s dividend payout ratio is presently 41.88%.

Hedge Funds Weigh In On ABM Industries

Several institutional investors have recently made changes to their positions in ABM. BlackRock Inc. purchased a new position in shares of ABM Industries during the 2nd quarter valued at about $410,948,000. Dimensional Fund Advisors LP raised its stake in ABM Industries by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,076,047 shares of the business services provider’s stock worth $157,007,000 after acquiring an additional 24,213 shares during the period. Pzena Investment Management LLC bought a new stake in ABM Industries during the 2nd quarter worth approximately $79,995,000. Invenomic Capital Management LP lifted its holdings in ABM Industries by 25.9% during the fourth quarter. Invenomic Capital Management LP now owns 629,452 shares of the business services provider’s stock valued at $26,626,000 after purchasing an additional 129,614 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in ABM Industries during the second quarter valued at approximately $24,486,000. Institutional investors own 91.62% of the company’s stock.

About ABM Industries

ABM Industries Incorporated (NYSE:ABM) is a provider of integrated facility and workplace solutions. The company helps organizations operate, maintain and improve their buildings and infrastructure through services that include janitorial and custodial work, facilities engineering, HVAC and mechanical services, parking and transportation management, security, landscaping, and energy and sustainability solutions.

ABM serves a broad range of end markets, including commercial real estate, aviation, education, healthcare, manufacturing, technology, government and sports and entertainment facilities.