APi Group (NYSE:APG) Hits New 1-Year High - Here's Why

APi Group Corporation (NYSE:APG - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $48.96 and last traded at $48.80, with a volume of 162515 shares traded. The stock had previously closed at $47.85.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of APi Group from $48.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, May 30th. UBS Group lifted their target price on APi Group from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Citigroup decreased their target price on APi Group from $46.00 to $42.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Robert W. Baird raised their price target on APi Group from $47.00 to $51.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada set a $52.00 price objective on APi Group in a report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, APi Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.57.

APi Group Stock Up 0.1%

The firm has a market capitalization of $13.54 billion, a P/E ratio of 106.34 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. The firm's 50-day moving average is $43.29 and its 200 day moving average is $39.27.

Shares of APi Group are set to split before the market opens 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 market closes on Monday, June 30th.

APi Group (NYSE:APG - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.66 billion. APi Group had a return on equity of 20.99% and a net margin of 3.36%. The business's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, equities research analysts predict that APi Group Corporation will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other APi Group news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction 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 sale, the director now directly owns 5,612,102 shares in the company, valued at approximately $239,748,997.44. The trade was a 2.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On APi Group

A number of large investors have recently modified their holdings of the business. Asset Management One Co. Ltd. increased its position in shares of APi Group by 24.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 89,897 shares of the company's stock valued at $3,236,000 after acquiring an additional 17,404 shares during the last quarter. Proficio Capital Partners LLC bought a new position in APi Group in the fourth quarter valued at approximately $511,000. Captrust Financial Advisors grew its stake in APi Group by 50.0% in the fourth quarter. Captrust Financial Advisors now owns 14,508 shares of the company's stock valued at $522,000 after purchasing an additional 4,839 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of APi Group by 9.3% during the 4th quarter. Victory Capital Management Inc. now owns 162,538 shares of the company's stock worth $5,846,000 after purchasing an additional 13,780 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of APi Group during the 4th quarter worth approximately $7,427,000. 86.62% of the stock is currently owned by institutional investors and hedge funds.

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.