APi Group Corporation (NYSE:APG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of APi Group Corporation (NYSE:APG) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $52.1429.

A number of research firms recently weighed in on APG. Barclays restated an “overweight” rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Citigroup reiterated a “buy” rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Truist Financial set a $55.00 price target on APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Weiss Ratings cut APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Finally, Robert W. Baird set a $52.00 price objective on APi Group in a research report on Friday, May 1st.

APi Group Trading Up 0.4%

Shares of NYSE APG opened at $41.95 on Friday. The firm has a 50 day moving average price of $43.26 and a two-hundred day moving average price of $42.58. The stock has a market cap of $18.17 billion, a P/E ratio of -59.08, a price-to-earnings-growth ratio of 2.45 and a beta of 1.60. APi Group has a 52-week low of $33.40 and a 52-week high of $49.99. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the previous year, the business earned $0.37 earnings per share. APi Group’s revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts forecast that APi Group will post 1.7 EPS for the current year.

Insider Activity

In other APi Group news, Director Ian G. H. Ashken sold 65,534 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the completion of the sale, the director owned 9,477,284 shares of the company’s stock, valued at approximately $431,121,649.16. This represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James E. Lillie sold 59,461 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $45.50, for a total transaction of $2,705,475.50. Following the transaction, the director owned 9,237,350 shares of the company’s stock, valued at approximately $420,299,425. The trade was a 0.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 3,451,000 shares of company stock worth $149,194,935. 18.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On APi Group

Several large investors have recently modified their holdings of APG. Congress Asset Management Co. bought a new position in shares of APi Group in the 4th quarter worth about $49,665,000. Rathbones Group PLC boosted its position in shares of APi Group by 215.7% during the 4th quarter. Rathbones Group PLC now owns 211,909 shares of the company’s stock valued at $8,108,000 after purchasing an additional 144,789 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of APi Group during the 3rd quarter valued at about $1,335,000. Allspring Global Investments Holdings LLC grew its stake in APi Group by 2.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,831,219 shares of the company’s stock worth $188,273,000 after purchasing an additional 92,816 shares during the period. Finally, New Mexico Educational Retirement Board grew its stake in APi Group by 50.0% during the third quarter. New Mexico Educational Retirement Board now owns 74,850 shares of the company’s stock worth $2,573,000 after purchasing an additional 24,950 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Company Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.