The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. ABM Industries Inc shares valued at $2,158,314 were sold by ELLIS EARL RAY on Oct 14 ’24. At $53.96 per share, ELLIS EARL RAY sold 40,000 shares. The insider’s holdings dropped to 45,260 shares worth approximately $2.4 million following the completion of this transaction.
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Also, ELLIS EARL RAY purchased 40,000 shares, netting a total of over 2,158,316 in proceeds.
Before that, SALMIRS SCOTT B had sold 13,264 shares from its account. In a trade valued at $733,352, the President and CEO traded ABM Industries Inc shares for $55.29 each. Upon closing the transaction, the insider’s holdings decreased to 13,264 shares, worth approximately $18.75 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 drop of approximately -0.19%. Over the course of the year, ABM Industries Inc shares have jumped approximately 18.36%. Shares of the company reached a 52-week high of $59.78 on 09/06/24 and a 52-week low of $39.64 on 02/13/24. A 50-day SMA is recorded $52.93, while a 200-day SMA reached $48.15. Nevertheless, trading volume fell to 0.42 million shares from 0.31 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 52.74, which, if violated, would cause prices to drop to 52.42. In the upper region, resistance lies at 53.61. The next price resistance is at 54.16. RSI (Relative Strength Index) is 49.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 84.95%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
