ABM Industries (ABM) Gets a Buy Rating from Maxim Group

By Jason Carr

Maxim Group analyst Tate Sullivan maintained a Buy rating on ABM Industries (ABMResearch Report) today and set a price target of $43.00. The company’s shares closed last Monday at $32.92, close to its 52-week low of $31.81.

According to TipRanks.com, Sullivan has currently no stars on a ranking scale of 0-5 stars, with an average return of -9.4% and a 33.5% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Recon Technology, and Mistras Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for ABM Industries with a $38.50 average price target.

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Based on ABM Industries’ latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $1.65 billion and net profit of $48 million. In comparison, last year the company had a net profit of $12.9 million.

Based on the recent corporate insider activity of 140 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ABM in relation to earlier this year.

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ABM Industries, Inc. engages in the provision of facility services for commercial, industrial, and institutional buildings. It operates through the following segments: Business & Industry, Aviation, Technology & Manufacturing, Education, and Technical Solutions.