APi Group (NYSE:APG) Hits New 1-Year High on Earnings Beat

Key Points

• APi Group's stock (NYSE:APG) reached a new 52-week high of $35.59 after posting better-than-expected quarterly earnings of $0.39 EPS, surpassing analysts' estimates of $0.37.
• The company also experienced a 15% year-over-year revenue increase and has seen significant support, with numerous analysts upgrading the stock and assigning a consensus rating of "Buy."
• In insider activity, Director Ian G. H. Ashken sold 225,000 shares for over $6 million, which resulted in a 2.60% decrease in his ownership stake.

Shares of APi Group Corporation (NYSE:APG - Get Free Report) reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $35.59 and last traded at $35.50, with a volume of 77468 shares trading hands. The stock had previously closed at $34.42.

The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.02. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.88 billion. APi Group had a net margin of 3.35% and a return on equity of 21.33%. The firm's revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 earnings per share.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $34.67 price target on shares of APi Group in a research report on Friday, June 27th. Truist Financial lifted their price target on shares of APi Group from $32.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Citigroup reduced their price target on shares of APi Group from $30.67 to $28.00 and set a "buy" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. raised shares of APi Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $31.00 to $42.00 in a research note on Tuesday, July 15th. Finally, Robert W. Baird raised their price objective on shares of APi Group from $31.33 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $36.10.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of APG. Capital Research Global Investors raised its holdings in APi Group by 118.2% in the 4th 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 grew its stake in shares of APi Group by 78.0% during the 1st quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company's stock valued at $318,663,000 after buying an additional 3,903,632 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of APi Group by 75.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company's stock valued at $241,997,000 after buying an additional 2,906,783 shares during the period. Bessemer Group Inc. grew its stake in shares of APi Group by 479,614.2% during the 1st quarter. Bessemer Group Inc. now owns 2,878,285 shares of the company's stock valued at $102,929,000 after buying an additional 2,877,685 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of APi Group by 20.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,627,444 shares of the company's stock valued at $562,120,000 after buying an additional 2,602,758 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Price Performance

The company's 50 day moving average price is $33.41 and its 200-day moving average price is $28.29. The company has a market capitalization of $14.76 billion, a PE ratio of 111.06 and a beta of 1.56. The company has a current ratio of 1.45, a quick ratio of 1.37 and a debt-to-equity ratio of 0.87.

APi Group Company Profile

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.