APi Group (NYSE:APG) Shares Gap Up to $38.56

APi Group Co. (NYSE:APG) gapped up prior to trading on Monday . The stock had previously closed at $38.56, but opened at $39.89. APi Group shares last traded at $39.60, with a volume of 71,381 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on APG. Barclays increased their price target on APi Group from $37.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Jefferies Financial Group began coverage on APi Group in a report on Friday, March 15th. They issued a “buy” rating and a $48.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on APi Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, March 6th. Robert W. Baird raised their price objective on APi Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, UBS Group raised their price objective on APi Group from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.29.

APi Group Price Performance

The stock has a fifty day moving average price of $37.47 and a 200-day moving average price of $32.57. The firm has a market capitalization of $10.22 billion, a PE ratio of -51.46, a P/E/G ratio of 1.16 and a beta of 1.64. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.35 and a current ratio of 1.43.

APi Group (NYSE:APG) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. APi Group had a return on equity of 20.24% and a net margin of 2.21%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the business posted $0.36 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that APi Group Co. will post 1.86 EPS for the current fiscal year.

Insider Activity

In other news, CFO Kevin Krumm sold 5,585 shares of APi Group stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.72, for a total value of $199,496.20. Following the transaction, the chief financial officer now directly owns 34,180 shares in the company, valued at approximately $1,220,909.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Kevin Krumm sold 5,585 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.72, for a total value of $199,496.20. Following the completion of the sale, the chief financial officer now owns 34,180 shares of the company’s stock, valued at approximately $1,220,909.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Lillie sold 125,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $38.38, for a total value of $4,797,500.00. Following the completion of the sale, the director now directly owns 5,455,411 shares of the company’s stock, valued at approximately $209,378,674.18. The disclosure for this sale can be found here. Company insiders own 16.40% of the company’s stock.

Institutional Trading of APi Group

A number of institutional investors have recently made changes to their positions in APG. JPMorgan Chase & Co. boosted its position in shares of APi Group by 4.3% in the 1st quarter. JPMorgan Chase & Co. now owns 207,347 shares of the company’s stock worth $4,360,000 after purchasing an additional 8,460 shares in the last quarter. US Bancorp DE boosted its position in shares of APi Group by 8.0% in the 1st quarter. US Bancorp DE now owns 12,978 shares of the company’s stock worth $273,000 after purchasing an additional 965 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in APi Group by 1,075.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,914 shares of the company’s stock worth $61,000 after acquiring an additional 2,666 shares during the period. AlphaCrest Capital Management LLC lifted its position in APi Group by 24.1% during the 1st quarter. AlphaCrest Capital Management LLC now owns 16,374 shares of the company’s stock worth $344,000 after acquiring an additional 3,180 shares during the period. Finally, MetLife Investment Management LLC lifted its position in APi Group by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 107,748 shares of the company’s stock worth $2,266,000 after acquiring an additional 39,118 shares during the period. Institutional investors and hedge funds own 86.62% of the company’s stock.

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.