APi Group (NYSE:APG) Hits New 52-Week High - What's Next?

Shares of APi Group Corporation (NYSE:APG - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $34.89 and last traded at $34.41, with a volume of 1334571 shares trading hands. The stock had previously closed at $34.60.

Analysts Set New Price Targets

APG has been the subject of several recent research reports. Truist Financial raised their target price on shares of APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a research note on Sunday. Royal Bank Of Canada restated an "outperform" rating and issued a $34.67 target price on shares of APi Group in a research note on Friday, June 27th. JPMorgan Chase & Co. began coverage on APi Group in a research report on Tuesday, June 24th. They set a "neutral" rating and a $30.67 price target for the company. Finally, Citigroup dropped their price objective on shares of APi Group from $30.67 to $28.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.19.

APi Group Trading Up 0.4%

The company has a 50 day moving average price of $31.96 and a two-hundred day moving average price of $27.19. The firm has a market capitalization of $14.35 billion, a price-to-earnings ratio of 112.65 and a beta of 1.58. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.38 and a current ratio of 1.47.

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

Insiders Place Their Bets

In other news, Director Ian G. H. Ashken sold 225,000 shares of the stock in a transaction dated Monday, May 5th. The shares were 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 directly 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 Securities & Exchange Commission, which is available at this link. Insiders own 17.00% of the company's stock.

Institutional Trading of APi Group

Large investors have recently bought and sold shares of the business. SVB Wealth LLC acquired a new position in shares of APi Group during the 1st quarter worth approximately $38,000. GAMMA Investing LLC boosted its stake in APi Group by 105.5% during 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 last quarter. Versant Capital Management Inc grew its holdings in APi Group by 339.0% in the 1st quarter. Versant Capital Management Inc now owns 1,633 shares of the company's stock valued at $58,000 after buying an additional 1,261 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of APi Group by 40.5% in the 1st quarter. First Horizon Advisors Inc. now owns 1,672 shares of the company's stock worth $60,000 after acquiring an additional 482 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of APi Group in the 2nd quarter worth $98,000. Hedge funds and other institutional investors own 86.62% of the company's stock.

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.