Brokerages Set APi Group Co. (NYSE:APG) PT at $49.57

Shares of APi Group Co. (NYSE:APG - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $50.57.

Several equities research analysts have recently commented on APG shares. Royal Bank of Canada set a $52.00 price target on APi Group in a research note on Thursday, May 22nd. Citigroup cut their price target on APi Group from $46.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Truist Financial upped their price target on APi Group from $48.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upped their price objective on APi Group from $39.00 to $46.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, UBS Group upped their price objective on APi Group from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd.

Insider Buying and Selling at APi Group

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of the company's stock in a transaction on 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 sale, the director now owns 5,612,102 shares of the company's stock, valued at approximately $239,748,997.44. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.00% of the stock is owned by corporate insiders.

Institutional Trading of APi Group

Several large investors have recently bought and sold shares of APG. Capital Research Global Investors boosted its stake in shares of APi Group by 118.2% during the fourth quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock valued at $393,774,000 after acquiring an additional 5,931,314 shares during the last quarter. Durable Capital Partners LP boosted its stake in shares of APi Group by 78.0% during the first quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company's stock valued at $318,663,000 after acquiring an additional 3,903,632 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of APi Group during the fourth quarter valued at $125,407,000. T. Rowe Price Investment Management Inc. boosted its stake in shares of APi Group by 75.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company's stock valued at $241,997,000 after acquiring an additional 2,906,783 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of APi Group by 479,614.2% during the first quarter. Bessemer Group Inc. now owns 2,878,285 shares of the company's stock valued at $102,929,000 after acquiring an additional 2,877,685 shares during the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

APi Group Stock Performance

NYSE APG traded up $0.15 on Thursday, reaching $46.82. The stock had a trading volume of 1,377,356 shares, compared to its average volume of 1,731,862. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51. APi Group has a 12-month low of $30.76 and a 12-month high of $48.08. The business's 50-day moving average price is $39.74 and its 200 day moving average price is $38.29. The stock has a market cap of $12.96 billion, a P/E ratio of -23.77 and a beta of 1.54.

APi Group shares are going to split on the morning of Tuesday, July 1st. The 3-2 split was announced on Wednesday, May 21st. The newly minted shares will be payable to shareholders after the closing bell on Monday, June 30th.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 EPS 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 business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The company's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities analysts expect that APi Group will post 1.83 earnings per share for the current year.

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.