ABM Industries (NYSE:ABM) Shares Gap Down – Should You Sell?

Shares of ABM Industries Incorporated (NYSE:ABM) gapped down prior to trading on Wednesday . The stock had previously closed at $54.91, but opened at $49.73. ABM Industries shares last traded at $51.66, with a volume of 94,047 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group lifted their price objective on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday. Robert W. Baird increased their price target on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, Truist Financial upped their target price on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, September 9th.

ABM Industries Price Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 21.13 and a beta of 1.14. The company has a 50-day moving average of $55.36 and a 200-day moving average of $53.32.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. As a group, research analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.265 per share. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries’s dividend payout ratio is 83.46%.

Insider Transactions at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This represents a 46.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.04% of the stock is owned by company insiders.

Hedge Funds Weigh In On ABM Industries

Hedge funds have recently bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its stake in shares of ABM Industries by 2.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock valued at $900,000 after acquiring an additional 378 shares during the last quarter. Arizona State Retirement System lifted its stake in ABM Industries by 2.6% in the second quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock valued at $896,000 after buying an additional 442 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of ABM Industries by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,036 shares of the business services provider’s stock worth $1,772,000 after buying an additional 539 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of ABM Industries in the 3rd quarter valued at $30,000. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of ABM Industries by 3.9% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 15,804 shares of the business services provider’s stock valued at $791,000 after acquiring an additional 588 shares during the period. 91.62% of the stock is owned by 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.