APi Group (NYSE:APG) Sees Large Volume Increase - Time to Buy?

Key Points

• APi Group's trading volume jumped to 6,124,886 shares—an increase of 126% from the previous session—with the stock trading around $46.88 versus a prior close of $44.39, signaling heightened investor interest.
• Multiple brokers (Barclays, Citi, RBC, Truist) raised price targets into the $52–$53 range and the stock has a MarketBeat consensus of "Moderate Buy" (consensus target $48.57) after an earnings beat and 13.8% revenue growth.
• Significant insider selling has occurred recently—directors sold a combined 3.68 million shares worth about $152.3 million over the last 90 days (including a $122.64M sale by Martin Franklin)—creating a mixed signal despite insiders still owning 17% of the company.

APi Group Corporation (NYSE:APG - Get Free Report) shares saw an uptick in trading volume on Friday . 6,124,886 shares traded hands during mid-day trading, an increase of 126% from the previous session's volume of 2,707,291 shares.The stock last traded at $46.88 and had previously closed at $44.39.

Analyst Ratings Changes

A number of brokerages have commented on APG. Barclays increased their price target on shares of APi Group from $44.00 to $52.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Weiss Ratings reiterated a "hold (c+)" rating on shares of APi Group in a research note on Monday, December 22nd. Citigroup increased their price objective on shares of APi Group from $49.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. Royal Bank Of Canada increased their price objective on shares of APi Group from $45.00 to $53.00 and gave the company an "outperform" rating in a research report on Thursday, February 26th. Finally, Truist Financial increased their price objective on shares of APi Group from $50.00 to $53.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.57.

APi Group Price Performance

The company has a market capitalization of $20.17 billion, a P/E ratio of -61.64, a price-to-earnings-growth ratio of 2.68 and a beta of 1.68. The company's 50-day moving average price is $42.94 and its two-hundred day moving average price is $39.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.50 and a quick ratio of 1.43.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.09 billion. APi Group had a net margin of 3.70% and a return on equity of 37.92%. The company's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. As a group, sell-side analysts expect that APi Group Corporation will post 1.83 EPS for the current year.

Insider Activity

In other news, Director James E. Lillie sold 100,888 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $44.30, for a total value of $4,469,338.40. Following the transaction, the director directly owned 9,706,462 shares of the company's stock, valued at $429,996,266.60. This represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin E. Franklin sold 3,000,000 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $40.88, for a total transaction of $122,640,000.00. Following the transaction, the director directly owned 21,240,426 shares in the company, valued at approximately $868,308,614.88. This represents a 12.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,682,000 shares of company stock valued at $152,333,385 over the last ninety days. 17.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sound Income Strategies LLC bought a new position in shares of APi Group during the fourth quarter worth approximately $27,000. Cornerstone Planning Group LLC increased its holdings in shares of APi Group by 14,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 741 shares of the company's stock worth $31,000 after purchasing an additional 736 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of APi Group by 1,851.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company's stock worth $29,000 after purchasing an additional 722 shares during the period. IFP Advisors Inc increased its holdings in shares of APi Group by 146.7% during the fourth quarter. IFP Advisors Inc now owns 824 shares of the company's stock worth $32,000 after purchasing an additional 490 shares during the period. Finally, Clearstead Advisors LLC increased its holdings in shares of APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company's stock worth $29,000 after purchasing an additional 427 shares during the period. 86.62% of the stock is owned by institutional investors.

About APi Group

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.

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