APi Group (NYSE:APG) Hits New 12-Month High on Analyst Upgrade

APi Group Co. (NYSE:APG - Get Free Report) shares hit a new 52-week high during trading on Tuesday after Barclays raised their price target on the stock from $43.00 to $48.00. Barclays currently has an overweight rating on the stock. APi Group traded as high as $42.95 and last traded at $42.83, with a volume of 4722026 shares traded. The stock had previously closed at $42.32.

Several other analysts have also recently issued reports on APG. Truist Financial reiterated a "buy" rating and set a $48.00 target price (up previously from $45.00) on shares of APi Group in a research report on Thursday, February 27th. Citigroup cut their target price on APi Group from $46.00 to $42.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group cut their target price on APi Group from $45.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Robert W. Baird increased their target price on APi Group from $40.00 to $46.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Finally, Royal Bank of Canada upgraded APi Group from a "sector perform" rating to an "outperform" rating and set a $45.00 target price for the company in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.86.

Insider Activity at APi Group

In related news, Director James E. Lillie sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the completion of the transaction, the director now directly owns 1,046,203 shares of the company's stock, valued at approximately $39,724,327.91. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $42.72, for a total value of $6,408,000.00. Following the transaction, the director now directly owns 5,612,102 shares of the company's stock, valued at approximately $239,748,997.44. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On APi Group

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of APi Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 23,124,584 shares of the company's stock valued at $831,791,000 after purchasing an additional 127,038 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of APi Group by 20.0% in 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 purchasing an additional 2,602,758 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of 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 purchasing an additional 5,931,314 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of APi Group by 19.2% in the 4th quarter. Janus Henderson Group PLC now owns 10,003,065 shares of the company's stock valued at $359,811,000 after purchasing an additional 1,611,744 shares during the last quarter. Finally, Durable Capital Partners LP lifted its stake in shares of APi Group by 199.8% in the 4th quarter. Durable Capital Partners LP now owns 5,007,539 shares of the company's stock valued at $180,121,000 after purchasing an additional 3,337,468 shares during the last quarter. 86.62% of the stock is owned by institutional investors.

APi Group Price Performance

The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $12.21 billion, a P/E ratio of -22.39 and a beta of 1.54. The firm has a 50 day moving average price of $36.84 and a 200-day moving average price of $37.10.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period last year, the company earned $0.34 EPS. APi Group's quarterly revenue was up 7.4% compared to the same quarter last year. On average, analysts expect that APi Group Co. 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.