APi Group Corporation (NYSE:APG) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: APi Group has a consensus “Moderate Buy” rating, with five buys, one strong buy and two holds. The average 12-month price target is $53.17, above the reported share price of $39.89.
• Quarterly results exceeded expectations: APi Group reported earnings of $0.32 per share versus the $0.30 consensus estimate, while revenue reached $1.98 billion, up 15.3% year over year and above forecasts.
• Insiders have recently sold shares: Company insiders sold 3.451 million shares worth approximately $149.2 million over the past 90 days, including a director’s sale of 2 million shares for $84.16 million.

APi Group Corporation (NYSE:APG - Get Free Report) has been given an average rating of "Moderate Buy" by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $53.1667.

A number of brokerages have recently commented on APG. Robert W. Baird set a $52.00 target price on shares of APi Group in a report on Friday, May 1st. Citigroup reissued a "buy" rating and set a $53.00 price objective (up from $52.00) on shares of APi Group in a research report on Friday, May 1st. Wall Street Zen upgraded shares of APi Group from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Barclays restated an "overweight" rating and issued a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Finally, Truist Financial set a $55.00 target price on shares of APi Group and gave the stock a "buy" rating in a research note on Friday, May 1st.

APi Group Trading Up 0.8%

NYSE:APG opened at $39.89 on Tuesday. The company has a market capitalization of $17.28 billion, a PE ratio of -56.18, a P/E/G ratio of 2.31 and a beta of 1.60. APi Group has a 52-week low of $33.40 and a 52-week high of $49.99. The stock's 50 day moving average price is $41.51 and its 200 day moving average price is $42.77. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 0.79.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.92 billion. APi Group had a return on equity of 37.63% and a net margin of 3.85%.The firm's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, research analysts anticipate that APi Group will post 1.71 EPS for the current year.

Insider Buying and Selling

In other APi Group news, Director Anthony E. Malkin sold 7,000 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total transaction of $297,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin E. Franklin sold 2,000,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total value of $84,160,000.00. Following the sale, the director directly owned 19,240,426 shares of the company's stock, valued at $809,637,126.08. The trade was a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 3,451,000 shares of company stock worth $149,194,935. Insiders own 18.70% of the company's stock.

Institutional Investors Weigh In On APi Group

Several large investors have recently modified their holdings of APG. Sound Income Strategies LLC purchased a new position in APi Group in the 4th quarter valued at $27,000. Cornerstone Planning Group LLC increased its stake in APi Group by 14,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company's stock valued at $31,000 after buying an additional 736 shares during the period. Caitong International Asset Management Co. Ltd raised its position in APi Group by 1,851.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company's stock worth $29,000 after buying an additional 722 shares during the last quarter. IFP Advisors Inc raised its position in APi Group by 146.7% during the 4th quarter. IFP Advisors Inc now owns 824 shares of the company's stock worth $32,000 after buying an additional 490 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of APi Group by 55.3% in the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company's stock worth $29,000 after acquiring an additional 297 shares during the period. Hedge funds and other institutional investors own 86.62% of the company's stock.

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.

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