APi Group (NYSE:APG) Reaches New 12-Month High - Still a Buy?

APi Group Co. (NYSE:APG - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $48.26 and last traded at $48.25, with a volume of 673742 shares. The stock had previously closed at $47.50.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APG. UBS Group increased their price objective on APi Group from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Barclays upped their target price on APi Group from $48.00 to $55.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lifted their price target on shares of APi Group from $39.00 to $46.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Truist Financial boosted their price objective on shares of APi Group from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, Royal Bank of Canada set a $52.00 price objective on shares of APi Group in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.57.

APi Group Stock Up 1.8%

The stock has a market cap of $13.50 billion, a P/E ratio of -24.75 and a beta of 1.54. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The company has a 50-day simple moving average of $40.69 and a two-hundred day simple moving average of $38.60.

APi Group shares are going to split on Tuesday, July 1st. The 3-2 split was announced on Wednesday, May 21st. The newly minted shares will be issued to shareholders after the closing bell on Monday, June 30th.

APi Group (NYSE:APG - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. APi Group's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. On average, equities analysts forecast that APi Group Co. will post 1.83 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ian G. H. Ashken sold 150,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $42.72, for a total transaction of $6,408,000.00. Following the completion of the transaction, the director now owns 5,612,102 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APG. Blue Trust Inc. lifted its position in shares of APi Group by 92.3% in the 4th quarter. Blue Trust Inc. now owns 804 shares of the company's stock worth $27,000 after purchasing an additional 386 shares during the period. SVB Wealth LLC bought a new position in APi Group in the first quarter worth about $38,000. First Horizon Advisors Inc. lifted its holdings in APi Group by 53.4% in the fourth quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company's stock worth $43,000 after buying an additional 414 shares during the period. GAMMA Investing LLC lifted its holdings in APi Group by 105.5% in the first quarter. GAMMA Investing LLC now owns 1,529 shares of the company's stock worth $55,000 after buying an additional 785 shares during the period. Finally, Versant Capital Management Inc boosted its position in APi Group by 339.0% during the 1st quarter. Versant Capital Management Inc now owns 1,633 shares of the company's stock valued at $58,000 after acquiring an additional 1,261 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.