APi Group (NYSE:APG) Reaches New 1-Year High on Analyst Upgrade

APi Group Co. (NYSE:APG) shares 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.

Several other research analysts have also recently weighed in on the company. UBS Group reduced 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. Robert W. Baird lifted their target price on shares of APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Citigroup lowered their price target on shares of 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 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, Truist Financial reiterated a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of APi Group in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.86.

Insider Buying and Selling

In related news, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction dated 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 sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 17.00% of the stock is owned by insiders.

Hedge Funds Weigh In On APi Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC raised its stake in APi Group by 6.7% in the 1st quarter. Signaturefd LLC now owns 4,067 shares of the company’s stock valued at $145,000 after purchasing an additional 256 shares during the last quarter. Amalgamated Bank raised its position in shares of APi Group by 2.3% in the first quarter. Amalgamated Bank now owns 12,253 shares of the company’s stock valued at $438,000 after buying an additional 279 shares during the last quarter. Equitable Trust Co. lifted its stake in shares of APi Group by 1.7% in the fourth quarter. Equitable Trust Co. now owns 20,676 shares of the company’s stock worth $744,000 after buying an additional 351 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of APi Group by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 7,380 shares of the company’s stock worth $265,000 after buying an additional 370 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in APi Group by 92.3% during the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

APi Group Stock Performance

The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51. The firm’s 50 day moving average is $36.41 and its 200-day moving average is $36.83. The company has a market cap of $11.83 billion, a PE ratio of -21.74 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, beating the consensus estimate of $0.35 by $0.02. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts anticipate that APi Group Co. will post 1.83 earnings per share for the current fiscal 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.