ABM Industries shares are volatile. Traders are taking profits after a recent stock surge.
Record third-quarter results initially fueled the upward momentum. The company also increased full-year guidance for profits and free cash flow.
ABM has seen no new analyst price target changes. Investor sentiment regarding the company's valuation drives the current stock movement after its strong run.
Despite profit-taking, the company's underlying business provides a stable revenue source. It offers recurring facility services across various industries.