Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. ABM Industries Inc. shares valued at $567,675 were sold by NEWBORN ANDREA R on May 01 ’24. At $45.00 per share, NEWBORN ANDREA R sold 12,615 shares. The insider’s holdings dropped to 45,847 shares worth approximately $2.35 million following the completion of this transaction.
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Also, JACOBSEN RENE sold 5,563 shares, netting a total of over 242,464 in proceeds. Following the sale of shares at $43.59 each, the insider now holds 111,677 shares.
Before that, CHIN DEAN A had sold 5,465 shares from its account. In a trade valued at $245,324, the SVP – Chief Accounting Officer traded ABM Industries Inc. shares for $44.89 each. Upon closing the transaction, the insider’s holdings decreased to 5,465 shares, worth approximately $1.02 million.
As published in their initiating research note from Truist on November 13, 2023, ABM Industries Inc. [ABM] has been a Hold and the price target has been revised to $43. Analysts at Deutsche Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early September. As of September 07, 2023, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for ABM. Earlier on June 01, 2023, UBS initiated its rating. Their recommendation was “a Neutral” for ABM stock.
Analyzing ABM Stock Performance
During the last five days, there has been a surge of approximately 7.33%. Over the course of the year, ABM Industries Inc. shares have jumped approximately 14.34%. Shares of the company reached a 52-week high of $51.85 on 06/12/24 and a 52-week low of $39.64 on 02/13/24. A 50-day SMA is recorded $45.83, while a 200-day SMA reached $42.97. Nevertheless, trading volume fell to 0.67 million shares from 0.6 million shares the previous day.
Support And Resistance Levels for ABM Industries Inc. (ABM)
According to the 24-hour chart, there is a support level at 50.90, which, if violated, would cause prices to drop to 50.53. In the upper region, resistance lies at 51.74. The next price resistance is at 52.21. RSI (Relative Strength Index) is 75.14 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.44, which suggests the price will increase in the coming days. Percent R is at 9.98%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
