APi Group (NYSE:APG) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of APi Group (NYSE:APG) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm issued a neutral rating and a $46.00 price target on the stock.

Other analysts have also issued reports about the stock. Truist Financial upped their price target on shares of APi Group from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. Citigroup cut their price target on shares of APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays upped their price target on shares of APi Group from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Royal Bank Of Canada set a $52.00 price objective on shares of APi Group in a research note on Thursday, May 22nd. Finally, Robert W. Baird increased their target price on shares of APi Group from $47.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.57.

APi Group Stock Performance

NYSE APG opened at $50.72 on Tuesday. The company has a 50-day simple moving average of $44.23 and a two-hundred day simple moving average of $39.54. The company has a quick ratio of 1.38, a current ratio of 1.47 and a debt-to-equity ratio of 0.92. APi Group has a 12-month low of $30.76 and a 12-month high of $51.95. The firm has a market cap of $14.04 billion, a price-to-earnings ratio of 110.25 and a beta of 1.58.

APi Group shares are set to split on the morning of Tuesday, July 1st. The 3-2 split was announced on Wednesday, May 21st. The newly minted shares will be distributed to shareholders after the market closes on Monday, June 30th.

APi Group (NYSE:APG) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. APi Group had a net margin of 3.36% and a return on equity of 20.99%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the prior year, the business posted $0.34 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. On average, equities analysts forecast that APi Group will post 1.83 EPS for the current year.

Insider Transactions at APi Group

In related news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $42.72, for a total value of $6,408,000.00. Following the completion of the transaction, the director now directly owns 5,612,102 shares of the company’s stock, valued at $239,748,997.44. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 17.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On APi Group

A number of institutional investors have recently bought and sold shares of the stock. Signaturefd LLC raised its stake in APi Group by 6.7% in the first quarter. Signaturefd LLC now owns 4,067 shares of the company’s stock worth $145,000 after buying an additional 256 shares in the last quarter. Amalgamated Bank raised its holdings in APi Group by 2.3% in the 1st quarter. Amalgamated Bank now owns 12,253 shares of the company’s stock worth $438,000 after acquiring an additional 279 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in APi Group by 5.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company’s stock worth $194,000 after acquiring an additional 303 shares during the last quarter. CIBC Asset Management Inc raised its holdings in APi Group by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 7,380 shares of the company’s stock worth $265,000 after acquiring an additional 370 shares during the last quarter. Finally, Cresset Asset Management LLC raised its holdings in APi Group by 3.6% in the 1st quarter. Cresset Asset Management LLC now owns 10,693 shares of the company’s stock worth $382,000 after acquiring an additional 374 shares during the last quarter. 86.62% of the stock is owned by institutional investors.

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.