APi Group Corporation (NYSE:APG) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• APi Group has an average analyst rating of “Moderate Buy” from nine research firms, with an average 12-month price target of about $52.14.
• The company recently beat quarterly expectations, reporting EPS of $0.32 versus $0.30 expected and revenue of $1.98 billion versus $1.92 billion forecast, with revenue up 15.3% year over year.
• Insider activity has been notable, including a 3 million-share sale by Director Martin E. Franklin and additional selling by Director Ian G. H. Ashken, even as institutional investors continue to hold a large majority of the stock.

Shares of APi Group Corporation (NYSE:APG - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nine research firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $52.1429.

APG has been the topic of several research reports. Barclays reissued an "overweight" rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Robert W. Baird set a $52.00 price target on shares of APi Group in a research report on Friday, May 1st. Truist Financial set a $55.00 price target on shares of APi Group and gave the company a "buy" rating in a research report on Friday, May 1st. Weiss Ratings reissued a "hold (c)" rating on shares of APi Group in a research report on Tuesday, May 26th. Finally, Citigroup reissued a "buy" rating and issued a $53.00 price target (up from $52.00) on shares of APi Group in a research report on Friday, May 1st.

Insider Activity

In related news, Director Martin E. Franklin sold 3,000,000 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the sale, the director owned 21,240,426 shares of the company's stock, valued at approximately $868,308,614.88. This represents a 12.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 65,534 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $45.49, for a total transaction of $2,981,141.66. Following the sale, the director directly owned 9,477,284 shares in the company, valued at $431,121,649.16. This trade represents a 0.69% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,444,000 shares of company stock valued at $187,377,645 over the last quarter. Company insiders own 18.70% of the company's stock.

Hedge Funds Weigh In On APi Group

A number of hedge funds and other institutional investors have recently bought and sold shares of APG. AQR Capital Management LLC purchased a new position in APi Group in the 1st quarter worth approximately $650,000. Goldman Sachs Group Inc. grew its stake in APi Group by 73.6% in the 1st 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. EverSource Wealth Advisors LLC grew its stake in APi Group by 547.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the company's stock worth $65,000 after buying an additional 1,078 shares in the last quarter. First Trust Advisors LP grew its stake in APi Group by 166.5% in the 2nd quarter. First Trust Advisors LP now owns 173,569 shares of the company's stock worth $8,861,000 after buying an additional 108,447 shares in the last quarter. Finally, Cresset Asset Management LLC grew its stake in APi Group by 5.7% in the 2nd quarter. Cresset Asset Management LLC now owns 11,305 shares of the company's stock worth $577,000 after buying an additional 612 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company's stock.

APi Group Stock Up 0.2%

APi Group stock opened at $42.06 on Monday. APi Group has a fifty-two week low of $31.40 and a fifty-two week high of $49.99. The stock has a market cap of $18.22 billion, a PE ratio of -59.23, a price-to-earnings-growth ratio of 2.47 and a beta of 1.60. The firm's 50-day simple moving average is $43.78 and its 200 day simple moving average is $42.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.36 and a current ratio of 1.44.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion for the quarter, compared to analysts' expectations of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. Research analysts predict that APi Group will post 1.7 EPS for the current fiscal year.

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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