APi Group (NYSE:APG) Shares Gap Up After Strong Earnings

APi Group Co. (NYSE:APG)’s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $37.83, but opened at $40.51. APi Group shares last traded at $39.81, with a volume of 191,502 shares trading hands.

The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis.

Analysts Set New Price Targets

Several analysts recently commented on APG shares. Robert W. Baird boosted their price target on APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Citigroup dropped their target price on shares of APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a report on Monday, April 14th. Truist Financial restated a “buy” rating and set a $48.00 price target (up from $45.00) on shares of APi Group in a research report on Thursday, February 27th. Royal Bank of Canada upgraded shares of 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. Finally, UBS Group dropped their price target on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.14.

Insider Activity

In related news, Director James E. Lillie sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value 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. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On APi Group

A number of hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its position in APi Group by 92.3% in the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock valued at $27,000 after buying an additional 386 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of APi Group during the 4th quarter worth approximately $34,000. First Horizon Advisors Inc. increased its holdings in APi Group by 53.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock valued at $43,000 after purchasing an additional 414 shares during the last quarter. GAMMA Investing LLC lifted its stake in APi Group by 105.5% during the first quarter. GAMMA Investing LLC now owns 1,529 shares of the company’s stock worth $55,000 after purchasing an additional 785 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of APi Group by 339.0% in the first quarter. Versant Capital Management Inc now owns 1,633 shares of the company’s stock valued at $58,000 after buying an additional 1,261 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

APi Group Price Performance

The company has a fifty day moving average of $36.35 and a 200-day moving average of $36.73. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The stock has a market cap of $11.68 billion, a PE ratio of -21.47 and a beta of 1.55.

APi Group Company Profile

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.