Why ABM Industries Stock Sagged by Almost 10% Today

Since mid-week, analysts and investors alike have been bearish on the company's recent performance.Dividend King ABM Industries (ABM 9.91%) wasn't looking so regal on Thursday. Following two bearish post-earnings analyst moves, investors aggressively sold the stock, resulting in a nearly 10% decline in value. Fourth-quarter flopBaird's Andrew Wittmann downgraded his recommendation on ABM. He now feels the industrial services company is a neutral, rather than a buy. He also reduced his price target to $51 pe ...