Stocks of ABM Industries Incorporated (NYSE:ABM) traded higher last session on Wall Street, down -0.75% to $47.50.
ABM stock price is now 1.76% away from the 50-day moving average and 6.35% away from the 200-day moving average. The market capitalization of the company currently stands at $3.12B.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Sponsored
With the price target maintained at $50, Robert W. Baird recently Upgraded its rating from Neutral to Outperform for ABM Industries Incorporated (NYSE: ABM). On March 30, 2022, Deutsche Bank recently initiated its ‘Buy’ rating on the stock quoting a target price of $62, while ‘Sidoti’ rates the stock as ‘Buy’.
In other news, CHIN DEAN A, SVP – Chief Accounting Officer sold 2,815 shares of the company’s stock on Feb 13. The stock was sold for $134,726 at an average price of $47.86. Upon completion of the transaction, the SVP – Chief Accounting Officer now directly owns 19,735 shares in the company, valued at $0.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 11, SVP – Chief Accounting Officer CHIN DEAN A sold 2,520 shares of the business’s stock. A total of $115,718 was realized by selling the stock at an average price of $45.92. This leaves the insider owning 22,533 shares of the company worth $1.07 million. Insiders disposed of 227,289 shares of company stock worth roughly $10.8 million over the past 1 year. A total of 1.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ABM stock. A new stake in ABM Industries Incorporated shares was purchased by WEDGE CAPITAL MANAGEMENT L L P/NC during the first quarter worth $7,505,000. BLEAKLEY FINANCIAL GROUP, LLC invested $3,526,000 in shares of ABM during the first quarter. In the first quarter, LEUTHOLD GROUP, LLC acquired a new stake in ABM Industries Incorporated valued at approximately $2,637,000. BULLSEYE INVESTMENT MANAGEMENT, LLC acquired a new stake in ABM for approximately $2,289,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in ABM valued at around $1,440,000 in the second quarter. In total, there are 360 active investors with 97.50% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $48.29 for ABM Industries Incorporated (NYSE: ABM). During the past 12 months, ABM Industries Incorporated has had a low of $37.68 and a high of $54.00. As of last week, the company has a debt-to-equity ratio of 0.74, a current ratio of 1.20, and a quick ratio of 1.20. The fifty day moving average price for ABM is $46.75 and a two-hundred day moving average price translates $44.68 for the stock.
The latest earnings results from ABM Industries Incorporated (NYSE: ABM) was released for Oct, 2022. According to the Specialty Business Services Company, earnings per share came in at $0.89, beating analysts’ expectations of $0.88 by 0.01. This compares to $0.50 EPS in the same period last year. The net profit margin was 3.00% and return on equity was 13.70% for ABM. The company reported revenue of $2.01 billion for the quarter, compared to $1.7 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.61 percent. For the current quarter, analysts expect ABM to generate $2.02B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/06/2023. Investors who held shares on 01/05/2023 were paid a $0.22 dividend. On an annualized basis, this represents a $0.88 dividend and a 1.85% percent yield. There was an ex-dividend date of 01/04/2023 for this dividend. In terms of dividend payout ratio, ABM is presently at 22.60%.
ABM Industries Incorporated(ABM) 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. The company operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments. The company offers janitorial, facilities engineering, and parking services for commercial real estate properties, including corporate offices for high tech clients, sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities; provides vehicle maintenance and other services to rental car providers. It also offers integrated facility services, engineering, and other specialized services in different types of manufacturing, distribution, and data center facilities. In addition, the company delivers custodial and landscaping and grounds for public school districts, private schools, colleges, and universities. Further, it supports airlines and airports with services comprising passenger assistance, catering logistics, air cabin maintenance, and transportation services. Additionally, the company provides electric vehicle power design, installation, and maintenance, as well as microgrid systems installations. ABM Industries Incorporated was founded in 1909 and is based in New York, New York.
