APi Group (NYSE:APG) Upgraded by JPMorgan Chase & Co. to "Overweight" Rating

JPMorgan Chase & Co. upgraded shares of APi Group (NYSE:APG - Free Report) from a neutral rating to an overweight rating in a report issued on Tuesday morning, Marketbeat.com reports. They currently have $42.00 price target on the stock, up from their prior price target of $31.00.

APG has been the topic of a number of other reports. Wall Street Zen upgraded APi Group from a "hold" rating to a "buy" rating in a research report on Sunday. Robert W. Baird boosted their price objective on APi Group from $31.33 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Citigroup lowered their price objective on APi Group from $30.67 to $28.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Barclays lowered their price objective on APi Group to $40.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 9th. Finally, UBS Group boosted their price objective on APi Group from $32.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, APi Group has an average rating of "Buy" and an average target price of $35.81.

APi Group Stock Performance

Shares of APG stock traded up $0.01 during trading hours on Tuesday, reaching $34.66. 3,761,978 shares of the company's stock were exchanged, compared to its average volume of 2,710,066. APi Group has a fifty-two week low of $20.50 and a fifty-two week high of $35.12. The stock has a market capitalization of $14.39 billion, a P/E ratio of 113.01 and a beta of 1.58. The business has a fifty day moving average price of $32.32 and a 200-day moving average price of $27.36. The company has a quick ratio of 1.38, a current ratio of 1.47 and a debt-to-equity ratio of 0.92.

APi Group (NYSE:APG - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. APi Group had a return on equity of 20.99% and a net margin of 3.36%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company earned $0.23 earnings per share. The company's quarterly revenue was up 7.4% compared to the same quarter last year. Analysts predict that APi Group will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other APi Group news, Director Ian G. H. Ashken sold 225,000 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $28.48, for a total value of $6,408,000.00. Following 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 legal filing with the SEC, which is available at this hyperlink. 17.00% of the stock is owned by company insiders.

Institutional Trading of APi Group

A number of large investors have recently bought and sold shares of APG. Capital Research Global Investors grew its position in APi Group by 118.2% in the fourth quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock valued at $393,774,000 after acquiring an additional 5,931,314 shares during the period. Durable Capital Partners LP grew its holdings in shares of APi Group by 78.0% during the first quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company's stock worth $318,663,000 after purchasing an additional 3,903,632 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of APi Group during the fourth quarter worth $125,407,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of APi Group by 75.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company's stock worth $241,997,000 after purchasing an additional 2,906,783 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of APi Group by 479,614.2% during the first quarter. Bessemer Group Inc. now owns 2,878,285 shares of the company's stock worth $102,929,000 after purchasing an additional 2,877,685 shares during the last quarter. 86.62% of the stock is currently owned by 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.