APi Group (NYSE:APG) Shares Gap Up - Time to Buy?

APi Group Corporation (NYSE:APG - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $48.95, but opened at $51.66. APi Group shares last traded at $50.61, with a volume of 1,498,456 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APG. Royal Bank Of Canada set a $52.00 target price on shares of APi Group in a research note on Thursday, May 22nd. Truist Financial boosted their price objective on APi Group from $48.00 to $54.00 and gave the company a "buy" rating in a research note 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. JPMorgan Chase & Co. boosted their price target on APi Group from $39.00 to $46.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, UBS Group raised their price objective on shares of APi Group from $48.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, APi Group presently has a consensus rating of "Moderate Buy" and an average target price of $50.57.

APi Group Stock Up 3.4%

The stock has a market cap of $14.01 billion, a price-to-earnings ratio of 110.30 and a beta of 1.58. The stock has a 50 day simple moving average of $43.29 and a 200 day simple moving average of $39.27. The company has a quick ratio of 1.38, a current ratio of 1.47 and a debt-to-equity ratio of 0.92.

Shares of APi Group 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 released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 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 net margin of 3.36% and a return on equity of 20.99%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. As a group, analysts expect that APi Group Corporation will post 1.83 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $42.72, for a total value of $6,408,000.00. Following the completion of the sale, the director now directly owns 5,612,102 shares of the company's stock, valued at approximately $239,748,997.44. This represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.00% of the company's stock.

Institutional Trading of APi Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC grew its position in APi Group by 4.6% in the 1st quarter. Voya Investment Management LLC now owns 28,883 shares of the company's stock worth $1,033,000 after purchasing an additional 1,261 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of APi Group by 0.4% in the first quarter. Rhumbline Advisers now owns 220,997 shares of the company's stock valued at $7,903,000 after acquiring an additional 920 shares in the last quarter. Strs Ohio bought a new position in shares of APi Group in the first quarter valued at approximately $11,877,000. Focus Partners Wealth increased its position in shares of APi Group by 19.2% during the first quarter. Focus Partners Wealth now owns 254,781 shares of the company's stock valued at $9,111,000 after acquiring an additional 41,044 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in APi Group by 114.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,802,773 shares of the company's stock worth $100,227,000 after acquiring an additional 1,495,268 shares during the period. Hedge funds and other institutional investors own 86.62% of the company's stock.

APi Group Company Profile

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.

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