APi Group (NYSE:APG) Reaches New 52-Week High – Here’s Why

APi Group Corporation (NYSE:APG) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $40.63 and last traded at $40.4620, with a volume of 1273651 shares. The stock had previously closed at $38.97.

Analyst Upgrades and Downgrades

Several research analysts have commented on APG shares. Zacks Research cut shares of APi Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Citigroup reiterated a “buy” rating and set a $45.00 price objective (up from $43.00) on shares of APi Group in a research report on Monday, December 8th. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Barclays raised their target price on APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, CJS Securities raised APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, APi Group presently has an average rating of “Moderate Buy” and an average target price of $38.81.

APi Group Trading Up 3.7%

The stock has a market cap of $16.80 billion, a price-to-earnings ratio of 110.18 and a beta of 1.70. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average of $37.99 and a 200-day moving average of $35.89.

APi Group (NYSE:APG) last issued its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.The business’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. As a group, research analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current year.

Insiders Place Their Bets

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of APi Group stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the sale, the director directly owned 18,968,790 shares in the company, valued at $684,583,631.10. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 900,000 shares of company stock worth $32,342,000 over the last 90 days. 17.00% of the stock is currently owned by company insiders.

Institutional Trading of APi Group

A number of institutional investors and hedge funds have recently modified their holdings of APG. Vanguard Group Inc. grew its stake in APi Group by 49.6% in the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after buying an additional 11,644,990 shares during the last quarter. Durable Capital Partners LP boosted its holdings in APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after acquiring an additional 4,274,610 shares during the period. State Street Corp grew its position in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after purchasing an additional 3,620,931 shares during the last quarter. Invesco Ltd. increased its stake in shares of APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock worth $175,627,000 after purchasing an additional 3,535,682 shares during the period. Finally, Norges Bank acquired a new position in shares of APi Group during the 2nd quarter worth about $154,149,000. 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.