APi Group (NYSE:APG) Stock Breaks Below 200 Day Moving Average - Here's What Happened

Key Points

• APi Group shares fell below their 200-day moving average of $41.95, trading as low as $39.77 and last quoted at $40.315. The article also reports the stock was down 8.4%.
• Analysts remain broadly positive: the consensus rating is Buy, with an average price target of $54.67; recent targets from Citigroup and Truist were $57 and $58, respectively.
• APi Group beat quarterly expectations, reporting EPS of $0.50 versus $0.47 expected and revenue of $2.55 billion versus $2.40 billion expected. Revenue increased 22.5% year over year.

APi Group Corporation (NYSE:APG - Get Free Report) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $41.95 and traded as low as $39.77. APi Group shares last traded at $40.3150, with a volume of 6,943,588 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Citigroup increased their target price on APi Group from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Friday, October 30th. Truist Financial set a $58.00 price target on shares of APi Group and gave the company a "buy" rating in a research note on Friday, October 30th. Robert W. Baird set a $47.00 price objective on shares of APi Group in a report on Friday, July 31st. Jefferies Financial Group reaffirmed a "buy" rating and issued a $56.00 price objective on shares of APi Group in a research note on Friday, October 30th. Finally, UBS Group set a $52.00 price objective on shares of APi Group in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $54.67.

APi Group Stock Down 8.4%

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.18 and a quick ratio of 1.12. The stock has a fifty day moving average price of $39.88 and a two-hundred day moving average price of $41.95. The company has a market cap of $17.14 billion, a P/E ratio of -63.99, a price-to-earnings-growth ratio of 1.86 and a beta of 1.57.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.40 billion. APi Group had a return on equity of 38.31% and a net margin of 4.12%. APi Group's revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, research analysts expect that APi Group Corporation will post 1.77 EPS for the current year.

Institutional Trading of APi Group

Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of APi Group by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 23,367,041 shares of the company's stock worth $946,846,000 after purchasing an additional 250,873 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of APi Group by 11.2% in the 3rd quarter. Pictet Asset Management Holding SA now owns 11,457,638 shares of the company's stock worth $442,284,000 after purchasing an additional 1,154,344 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in APi Group by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,524,369 shares of the company's stock valued at $101,000,000 after purchasing an additional 25,455 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in APi Group in the second quarter valued at approximately $93,030,000. Finally, Cooke & Bieler LP lifted its stake in APi Group by 13.6% in the third quarter. Cooke & Bieler LP now owns 2,030,753 shares of the company's stock valued at $78,387,000 after purchasing an additional 243,225 shares during the last quarter. Institutional investors own 86.62% of the company's stock.

APi Group Company Profile

APi Group Corporation NYSE: APG is a global provider of safety, specialty and industrial services. The company serves commercial, industrial and infrastructure customers through a network of operating businesses that provide services designed to protect people, property and critical assets.

APi Group's offerings include fire protection and life-safety systems, security services, heating, ventilation and air-conditioning services, industrial maintenance, specialty contracting and infrastructure services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.