APi Group (NYSE:APG) Hits New 12-Month High – Here’s What Happened

APi Group Co. (NYSE:APG)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $45.82 and last traded at $45.32, with a volume of 2239 shares changing hands. The stock had previously closed at $44.16.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APG. UBS Group lowered their price target on APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, January 14th. Citigroup lowered their target price on APi Group from $46.00 to $42.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Robert W. Baird increased their target price on APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, February 27th. Finally, Barclays increased their target price on APi Group from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, May 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.86.

APi Group Trading Up 1.0%

The stock has a 50 day moving average of $37.19 and a 200-day moving average of $37.24. The company has a market capitalization of $12.69 billion, a P/E ratio of -23.26 and a beta of 1.54. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

APi Group (NYSE:APG) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $0.34 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. On average, research analysts predict that APi Group Co. will post 1.83 EPS for the current year.

Insider Buying and Selling

In other news, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction that occurred on 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Lillie sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the sale, the director now directly owns 1,046,203 shares in the company, valued at $39,724,327.91. This trade represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by insiders.

Institutional Trading of APi Group

Several hedge funds have recently modified their holdings of APG. Blue Trust Inc. raised its holdings in shares of APi Group by 92.3% during the 4th quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after acquiring an additional 386 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of APi Group by 53.4% during the 4th quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock valued at $43,000 after purchasing an additional 414 shares during the last quarter. GAMMA Investing LLC grew its position in APi Group by 105.5% in the 1st quarter. GAMMA Investing LLC now owns 1,529 shares of the company’s stock valued at $55,000 after acquiring an additional 785 shares during the last quarter. Versant Capital Management Inc grew its position in APi Group by 339.0% in the 1st quarter. Versant Capital Management Inc now owns 1,633 shares of the company’s stock valued at $58,000 after acquiring an additional 1,261 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its position 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 valued at $82,000 after acquiring an additional 217,071 shares during the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

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.