APi Group (NYSE:APG) Sets New 1-Year High - Time to Buy?

APi Group Corporation (NYSE:APG - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $34.84 and last traded at $34.67, with a volume of 350571 shares traded. The stock had previously closed at $34.33.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APG. Citigroup cut their target price on APi Group from $30.67 to $28.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wall Street Zen downgraded APi Group from a "buy" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. began coverage on APi Group in a research note on Tuesday, June 24th. They set a "neutral" rating and a $30.67 target price on the stock. Truist Financial increased their target price on APi Group from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, Barclays increased their target price on APi Group from $32.00 to $36.67 and gave the company an "overweight" rating in a research note on Friday, May 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, APi Group has a consensus rating of "Moderate Buy" and a consensus target price of $33.71.

APi Group Trading Down 0.4%

The stock has a market capitalization of $14.20 billion, a PE ratio of 111.52 and a beta of 1.58. The company has a current ratio of 1.47, a quick ratio of 1.38 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average price of $31.12 and a 200-day moving average price of $26.84.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.66 billion. APi Group had a return on equity of 20.99% and a net margin of 3.36%. The company's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. Sell-side analysts expect that APi Group Corporation will post 1.83 earnings per share for the current year.

Insider Buying and Selling

In other APi Group news, Director Ian G. H. Ashken sold 225,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $28.48, for a total value of $6,408,000.00. Following the completion of the sale, the director owned 8,418,153 shares in the company, valued at $239,748,997.44. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 17.00% of the company's stock.

Institutional Investors Weigh In On APi Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APG. Proficio Capital Partners LLC purchased a new stake in APi Group in the 4th quarter worth approximately $511,000. US Bancorp DE increased its holdings in APi Group by 7.6% in the 4th quarter. US Bancorp DE now owns 6,741 shares of the company's stock worth $242,000 after acquiring an additional 476 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in APi Group by 828.0% in the 4th quarter. Jones Financial Companies Lllp now owns 3,805 shares of the company's stock worth $137,000 after acquiring an additional 3,395 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in APi Group by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,839,486 shares of the company's stock worth $66,166,000 after acquiring an additional 35,778 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in APi Group by 9.3% in the 4th quarter. Victory Capital Management Inc. now owns 162,538 shares of the company's stock worth $5,846,000 after acquiring an additional 13,780 shares in the last quarter. 86.62% of the stock is owned by hedge funds and other institutional investors.

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.