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ABM Industries (ABM) Announces Acquisition of Momentum Support
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ABM Industries Incorporated (ABM - Free Report) announced yesterday that it has acquired independent facility services provider, Momentum Support. Terms of the all-cash transaction were kept under wraps.
Acquisition of the Dublin-based janitorial services company provides ABM access to Momentum’s blue-chip customer base and positions it to cross sell ABM services to existing ABM clients who also have presence in the Republic of Ireland and Northern Ireland. Further, the buyout will strengthen ABM’s foothold in fast-growing markets in Ireland like technology and life sciences.
The acquisition is a part of ABM’s ELEVATE strategy that focuses on expanding the company’s footprint in potential geographies and end-markets through strategic acquisitions. Momentum Support will be a part of ABM’s Business & Industry segment.
“Many of our clients have substantial operations in the Republic of Ireland and Northern Ireland, making this transaction a great example of our ability and desire to grow with our core customers in attractive markets”, said Scott Salmirs, ABM’s president & CEO.
ABM’s shares have had an impressive run on the bourse year to date. The stock appreciated 16.7% compared with the industry’s growth of 3.9%. The the Zacks S&P 500 composite’s declined 5.2% in the same time frame.
Some other stocks in the broader Zacks Business Services sector that investors can consider are are FactSet Research Systems Inc. (FDS - Free Report) and Cross Country Healthcare, Inc. (CCRN - Free Report) .
Cross Country Healthcare has an expected long-term earnings per share (three to five years) growth rate of 6.6%. CCRN has a trailing four-quarter earnings surprise of 41.5%, on average.
Cross Country Healthcare’s shares have surged 56% in the past year. CCRN sport a Zacks Rank #1 (Strong Buy).
FactSet has an expected earnings growth rate of around 15.1% for the current year. FDS has a trailing four-quarter earnings surprise of 6.1%, on average.
FactSet shares have surged 42.7% in the past year. FDS has a long-term earnings growth of 10%. FDS carries a Zacks Rank #2.
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ABM Industries (ABM) Announces Acquisition of Momentum Support
ABM Industries Incorporated (ABM - Free Report) announced yesterday that it has acquired independent facility services provider, Momentum Support. Terms of the all-cash transaction were kept under wraps.
Acquisition of the Dublin-based janitorial services company provides ABM access to Momentum’s blue-chip customer base and positions it to cross sell ABM services to existing ABM clients who also have presence in the Republic of Ireland and Northern Ireland. Further, the buyout will strengthen ABM’s foothold in fast-growing markets in Ireland like technology and life sciences.
The acquisition is a part of ABM’s ELEVATE strategy that focuses on expanding the company’s footprint in potential geographies and end-markets through strategic acquisitions. Momentum Support will be a part of ABM’s Business & Industry segment.
“Many of our clients have substantial operations in the Republic of Ireland and Northern Ireland, making this transaction a great example of our ability and desire to grow with our core customers in attractive markets”, said Scott Salmirs, ABM’s president & CEO.
ABM’s shares have had an impressive run on the bourse year to date. The stock appreciated 16.7% compared with the industry’s growth of 3.9%. The the Zacks S&P 500 composite’s declined 5.2% in the same time frame.
ABM Industries Incorporated Price
ABM Industries Incorporated price | ABM Industries Incorporated Quote
Zacks Rank and Other Stocks to Consider
ABM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Some other stocks in the broader Zacks Business Services sector that investors can consider are are FactSet Research Systems Inc. (FDS - Free Report) and Cross Country Healthcare, Inc. (CCRN - Free Report) .
Cross Country Healthcare has an expected long-term earnings per share (three to five years) growth rate of 6.6%. CCRN has a trailing four-quarter earnings surprise of 41.5%, on average.
Cross Country Healthcare’s shares have surged 56% in the past year. CCRN sport a Zacks Rank #1 (Strong Buy).
FactSet has an expected earnings growth rate of around 15.1% for the current year. FDS has a trailing four-quarter earnings surprise of 6.1%, on average.
FactSet shares have surged 42.7% in the past year. FDS has a long-term earnings growth of 10%. FDS carries a Zacks Rank #2.