Today’s Stock Alert: Could ABM Industries, Inc. Change Direction After Making Record High?

Today's Stock Alert: Could ABM Industries, Inc. Change Direction After Making Record High?

The stock of ABM Industries, Inc. (NYSE:ABM) reached all time high today, Nov, 21 and still has $58.37 target or 32.00% above today’s $44.22 share price. This indicates more upside for the $2.52B company. This technical setup was reported by Barchart.com. If the $58.37 PT is reached, the company will be worth $806.40M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 173,990 shares traded hands. ABM Industries, Inc. (NYSE:ABM) has risen 34.93% since April 19, 2016 and is uptrending. It has outperformed by 31.07% the S&P500.

ABM Industries, Inc. (NYSE:ABM) Ratings Coverage

Out of 3 analysts covering ABM Industries (NYSE:ABM), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. ABM Industries has been the topic of 4 analyst reports since August 31, 2015 according to StockzIntelligence Inc. Sidoti downgraded ABM Industries, Inc. (NYSE:ABM) on Wednesday, November 16 to “Neutral” rating. As per Thursday, October 29, the company rating was downgraded by KeyBanc Capital Markets. On Thursday, June 23 the stock rating was maintained by Imperial Capital with “In-Line”. The rating was downgraded by Zacks to “Buy” on Monday, August 31.

According to Zacks Investment Research, “ABM Industries, Inc. provides air conditioning, elevator, engineering, janitorial, lighting, parking and security services to thousands of commercial, industrial and institutional customers who outsource these services in hundreds of cities across North America.”

Insitutional Activity: The institutional sentiment increased to 1.1 in Q2 2016. Its up 0.28, from 0.82 in 2016Q1. The ratio increased, as 28 funds sold all ABM Industries, Inc. shares owned while 66 reduced positions. 17 funds bought stakes while 60 increased positions. They now own 48.24 million shares or 4.50% less from 50.51 million shares in 2016Q1.
Cubist Systematic Strategies Limited Liability Company last reported 0.01% of its portfolio in the stock. Stifel has invested 0% of its portfolio in ABM Industries, Inc. (NYSE:ABM). Blackrock Fund Advsr, a California-based fund reported 3.68 million shares. Moreover, Blair William And Il has 0% invested in ABM Industries, Inc. (NYSE:ABM) for 10,617 shares. The New York-based Alliancebernstein Lp has invested 0.08% in ABM Industries, Inc. (NYSE:ABM). Channing Capital Limited Com owns 1.22M shares or 1.86% of their US portfolio. Macquarie Group Limited last reported 0.04% of its portfolio in the stock. Moreover, Chicago Equity Partners Ltd Liability has 0.09% invested in ABM Industries, Inc. (NYSE:ABM) for 80,165 shares. Capstone Asset Management reported 23,460 shares or 0.03% of all its holdings. Moreover, Blackrock Institutional Trust Communication Na has 0.01% invested in ABM Industries, Inc. (NYSE:ABM) for 1.40M shares. Rhumbline Advisers last reported 0.01% of its portfolio in the stock. Hsbc Public Llc has invested 0.01% of its portfolio in ABM Industries, Inc. (NYSE:ABM). State Board Of Administration Of Florida Retirement holds 0.01% or 55,538 shares in its portfolio. Sei Invests accumulated 12,843 shares or 0% of the stock. Prudential Fincl owns 136,802 shares or 0.01% of their US portfolio.

Insider Transactions: Since May 27, 2016, the stock had 0 insider buys, and 13 insider sales for $2.93 million net activity. The insider GIACOBBE SCOTT J sold 5,000 shares worth $184,292. 7,000 shares were sold by Ferguson Phil, worth $256,340. 848 shares were sold by CHIN DEAN A, worth $28,832. 25,725 shares were sold by Marano Thomas J, worth $949,514 on Monday, June 13. $20,250 worth of shares were sold by SCAGLIONE DIEGO ANTHONY on Thursday, November 10. $68,283 worth of ABM Industries, Inc. (NYSE:ABM) was sold by HERRINGER MARYELLEN C. 10,400 ABM Industries, Inc. (NYSE:ABM) shares with value of $385,122 were sold by McConnell Sarah H.

More news for ABM Industries, Inc. (NYSE:ABM) were recently published by: Marketwatch.com, which released: “/quotes/zigman/3870025/realtime” on August 04, 2009. Quotes.Wsj.com‘s article titled: “News ABM Industries Inc.ABM” and published on February 12, 2011 is yet another important article.

ABM Company Profile

ABM Industries Incorporated (ABM), incorporated on March 19, 1985, is a well-known provider of integrated facility solutions. The Firm provides end-to-end integrated facilities management services to commercial, governmental, industrial, institutional, residential, and retail client facilities in cities, primarily throughout the United States. ABM’s capabilities include facility services, energy solutions, commercial cleaning, maintenance and repair, heating, ventilation, and air conditioning (HVAC), electrical, landscaping, parking and security, through stand-alone or integrated solutions. The Company’s onsite businesses consist of Janitorial, Facility Services, Parking and Security divisions. The Company’s mobile and on-demand businesses consist of the Building & Energy Solutions reportable segment, and certain unconsolidated affiliates that provide facility solutions, primarily to the U.S. Government, which complement the other activities of the Building & Energy Solutions segment. The Company’s new segment, Other, is comprised of Air Serv.

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