APi Group (NYSE:APG) Stock Price Down 8.2% – What’s Next?

Shares of APi Group Corporation (NYSE:APG) dropped 8.2% during mid-day trading on Wednesday . The stock traded as low as $37.26 and last traded at $36.8940. Approximately 2,125,765 shares changed hands during trading, a decline of 25% from the average daily volume of 2,842,151 shares. The stock had previously closed at $40.20.

Analysts Set New Price Targets

Several brokerages have recently weighed in on APG. Citigroup reaffirmed a “buy” rating and set a $54.00 target price (up from $53.00) on shares of APi Group in a research note on Friday, July 31st. Wells Fargo & Company started coverage on shares of APi Group in a report on Tuesday, August 4th. They set an “overweight” rating and a $53.00 price objective on the stock. Robert W. Baird set a $47.00 target price on shares of APi Group in a research report on Friday, July 31st. Wall Street Zen downgraded shares of APi Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, UBS Group set a $52.00 target price on APi Group in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.57.

APi Group Trading Down 8.4%

The stock has a market capitalization of $15.91 billion, a PE ratio of -53.63, a P/E/G ratio of 2.33 and a beta of 1.60. The company’s 50 day moving average price is $41.00 and its two-hundred day moving average price is $42.39. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.20 billion. APi Group had a net margin of 3.99% and a return on equity of 37.59%. APi Group’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, analysts expect that APi Group Corporation will post 1.72 earnings per share for the current year.

Insider Activity

In other news, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director directly owned 19,240,426 shares of the company’s stock, valued at approximately $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony E. Malkin sold 7,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total transaction of $297,290.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,667,000 shares of company stock worth $110,810,972 over the last quarter. 18.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Silicon Valley Capital Partners lifted its holdings in shares of APi Group by 50.0% in the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares during the period. Parallel Advisors LLC boosted its holdings in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after buying an additional 297 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in APi Group by 1,851.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after buying an additional 722 shares in the last quarter. IFP Advisors Inc grew its position in APi Group by 146.7% during the fourth quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the period. Finally, EFG International AG acquired a new position in APi Group during the fourth quarter worth about $37,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

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.