APi Group (NYSE:APG) Hits New 52-Week High Following Analyst Upgrade

APi Group Co. (NYSE:APG)’s stock price hit a new 52-week high on Tuesday after Barclays raised their price target on the stock from $43.00 to $48.00. Barclays currently has an overweight rating on the stock. APi Group traded as high as $42.95 and last traded at $42.83, with a volume of 4722026 shares traded. The stock had previously closed at $42.32.

APG has been the topic of a number of other research reports. UBS Group lowered their price objective on shares of APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Citigroup lowered their price target on APi Group from $46.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Tuesday, January 14th. Truist Financial reissued a “buy” rating and issued a $48.00 target price (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. Finally, Robert W. Baird raised their target price on APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.86.

Insider Transactions at APi Group

In related news, Director James E. Lillie sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the completion of the transaction, the director now directly owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. The trade was a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On APi Group

Several large investors have recently added to or reduced their stakes in APG. Cetera Investment Advisers increased its stake in shares of APi Group by 5.2% in the first quarter. Cetera Investment Advisers now owns 66,406 shares of the company’s stock worth $2,375,000 after purchasing an additional 3,283 shares in the last quarter. ACR Alpine Capital Research LLC bought a new position in APi Group in the 1st quarter worth $947,000. KLP Kapitalforvaltning AS increased its stake in APi Group by 1.9% in the 1st quarter. KLP Kapitalforvaltning AS now owns 42,500 shares of the company’s stock worth $1,520,000 after buying an additional 800 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in APi Group during the first quarter valued at about $3,556,000. Finally, Carmel Capital Partners LLC raised its holdings in APi Group by 4.1% during the first quarter. Carmel Capital Partners LLC now owns 66,162 shares of the company’s stock valued at $2,366,000 after acquiring an additional 2,600 shares during the period. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Down 0.9 %

The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The company has a 50-day moving average price of $36.48 and a 200 day moving average price of $36.87. The firm has a market capitalization of $11.73 billion, a PE ratio of -21.56 and a beta of 1.54.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the firm earned $0.34 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. Analysts forecast that APi Group Co. will post 1.83 earnings per share for the current year.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.