APi Group (NYSE:APG) Stock Rating Upgraded by Wells Fargo & Company

Key Points

• Wells Fargo upgraded APi Group to “strong buy,” while analysts overall maintain a “buy” consensus with an average price target of $52.57.
• APi Group’s shares rose 4.2% to $41.52. The company recently exceeded quarterly expectations, reporting $0.44 in EPS and $2.25 billion in revenue, with revenue up 13.3% year over year.
• Director Martin E. Franklin sold 2 million shares for approximately $84.2 million, while institutional investors own 86.62% of the company.

APi Group (NYSE:APG - Get Free Report) was upgraded by Wells Fargo & Company to a "strong-buy" rating in a report issued on Tuesday, MarketBeat Ratings reports.

A number of other analysts also recently issued reports on the company. Truist Financial set a $55.00 target price on APi Group and gave the company a "buy" rating in a research report on Friday, May 1st. Barclays reiterated an "overweight" rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research note on Thursday, May 7th. Wall Street Zen cut shares of APi Group from a "buy" rating to a "hold" rating in a research note on Saturday. Robert W. Baird set a $47.00 target price on shares of APi Group in a report on Friday. Finally, Citigroup reaffirmed a "buy" rating and set a $54.00 price target (up from $53.00) on shares of APi Group in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $52.57.

APi Group Stock Up 4.2%

Shares of NYSE APG opened at $41.52 on Tuesday. APi Group has a 52-week low of $33.40 and a 52-week high of $49.99. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.39. The business has a fifty day moving average of $41.26 and a two-hundred day moving average of $42.68. The stock has a market cap of $17.94 billion, a PE ratio of -61.97, a PEG ratio of 2.32 and a beta of 1.60.

APi Group (NYSE:APG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business's revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts expect that APi Group will post 1.72 earnings per share for the current fiscal year.

Insider Activity at APi Group

In other APi Group news, Director Martin E. Franklin sold 2,000,000 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares of the company's stock, valued at $809,637,126.08. This trade represents a 9.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony E. Malkin sold 7,000 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The SEC filing for this sale provides additional information. Insiders own 18.70% of the company's stock.

Institutional Trading of APi Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in APi Group by 1.1% during the first quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company's stock worth $946,846,000 after acquiring an additional 250,873 shares during the last quarter. Durable Capital Partners LP boosted its stake in APi Group by 40.2% in the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company's stock valued at $512,050,000 after purchasing an additional 4,274,610 shares during the period. Viking Global Investors LP boosted its holdings in APi Group by 6.7% in the 3rd quarter. Viking Global Investors LP now owns 12,306,277 shares of the company's stock valued at $422,967,000 after purchasing an additional 768,759 shares during the period. State Street Corp boosted its stake in shares of APi Group by 0.8% in the 4th quarter. State Street Corp now owns 10,863,164 shares of the company's stock valued at $415,625,000 after purchasing an additional 91,388 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in APi Group by 9.4% in the 4th quarter. Geode Capital Management LLC now owns 7,250,619 shares of the company's stock valued at $277,465,000 after buying an additional 624,529 shares during the last quarter. Institutional investors own 86.62% of the company's stock.

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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