APi Group’s (APG) “Outperform” Rating Reaffirmed at Royal Bank of Canada

APi Group (NYSE:APG)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They presently have a $45.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential downside of 2.04% from the company’s previous close.

Several other brokerages also recently weighed in on APG. Truist Financial restated a “buy” rating and issued a $48.00 target price (up from $45.00) on shares of APi Group in a research note on Thursday, February 27th. UBS Group reduced their target price on APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Robert W. Baird boosted their price target on APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. increased their price objective on shares of APi Group from $39.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Barclays upped their price target on shares of APi Group from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. 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 an average target price of $45.57.

APi Group Stock Up 0.1%

Shares of APG traded up $0.04 during trading hours on Monday, hitting $45.94. The company had a trading volume of 1,347,083 shares, compared to its average volume of 1,710,814. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $12.72 billion, a PE ratio of -23.33 and a beta of 1.54. APi Group has a one year low of $30.76 and a one year high of $46.18. The company’s fifty day moving average price is $37.76 and its two-hundred day moving average price is $37.53.

APi Group (NYSE:APG) last announced its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts forecast that APi Group will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other APi Group news, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the completion of the transaction, the director now owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $42.72, for a total value of $6,408,000.00. Following the completion of the sale, the director now owns 5,612,102 shares in the company, valued at $239,748,997.44. The trade was a 2.60% decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On APi Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in APi Group by 73.6% during the first quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock worth $6,369,000 after buying an additional 75,490 shares in the last quarter. Select Equity Group L.P. grew its position in shares of APi Group by 36.9% during the 1st quarter. Select Equity Group L.P. now owns 4,521,352 shares of the company’s stock valued at $161,684,000 after acquiring an additional 1,217,554 shares during the period. BW Gestao de Investimentos Ltda. purchased a new position in shares of APi Group in the 1st quarter valued at about $14,276,000. AQR Capital Management LLC acquired a new position in APi Group in the 1st quarter worth about $650,000. Finally, Alyeska Investment Group L.P. boosted its position in APi Group by 3,967.8% during the first quarter. Alyeska Investment Group L.P. now owns 467,632 shares of the company’s stock worth $16,723,000 after purchasing an additional 456,136 shares in the last quarter. 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.