APi Group (NYSE:APG) Reaches New 1-Year High – What’s Next?

APi Group Co. (NYSE:APG) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $48.26 and last traded at $48.25, with a volume of 673742 shares trading hands. The stock had previously closed at $47.50.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on APG shares. JPMorgan Chase & Co. upped their target price on shares of APi Group from $39.00 to $46.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Royal Bank of Canada set a $52.00 target price on shares of APi Group in a research note on Thursday, May 22nd. Robert W. Baird increased their price target on shares of APi Group from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Citigroup cut their target price 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. Finally, Truist Financial raised their price objective on APi Group from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, APi Group has a consensus rating of “Moderate Buy” and a consensus target price of $50.57.

APi Group Price Performance

The stock has a 50 day moving average price of $40.69 and a 200-day moving average price of $38.60. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of -24.75 and a beta of 1.54.

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

APi Group (NYSE:APG) last issued its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, topping 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 company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. On average, analysts forecast that APi Group Co. will post 1.83 earnings per share for the current year.

Insider Transactions at APi Group

In related news, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $42.72, for a total transaction of $6,408,000.00. Following the transaction, the director now directly owns 5,612,102 shares in the company, valued at $239,748,997.44. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 17.00% of the company’s stock.

Institutional Trading of APi Group

Several institutional investors and hedge funds have recently made changes to their positions in APG. Strategic Financial Concepts LLC boosted its stake in APi Group by 2,058.1% in the 4th quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company’s stock worth $82,000 after purchasing an additional 217,071 shares during the period. Asset Management One Co. Ltd. raised its holdings in APi Group by 24.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 89,897 shares of the company’s stock valued at $3,236,000 after acquiring an additional 17,404 shares during the period. Proficio Capital Partners LLC bought a new position in APi Group in the 4th quarter valued at about $511,000. Captrust Financial Advisors increased its holdings in shares of APi Group by 50.0% during the fourth quarter. Captrust Financial Advisors now owns 14,508 shares of the company’s stock worth $522,000 after purchasing an additional 4,839 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of APi Group by 9.3% during the fourth quarter. Victory Capital Management Inc. now owns 162,538 shares of the company’s stock worth $5,846,000 after purchasing an additional 13,780 shares during the period. Institutional investors 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.