APi Group (NYSE:APG) Sets New 12-Month High – Here’s What Happened

APi Group Corporation (NYSE:APG) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $39.97 and last traded at $39.9810, with a volume of 2670522 shares changing hands. The stock had previously closed at $37.70.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of APi Group in a research note on Monday. Citigroup restated a “buy” rating and issued a $45.00 price target (up from $43.00) on shares of APi Group in a report on Monday. Barclays boosted their price objective on shares of APi Group from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Zacks Research lowered shares of APi Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.81.

APi Group Trading Up 5.9%

The stock has a market capitalization of $16.61 billion, a P/E ratio of 108.90 and a beta of 1.72. The stock’s 50 day moving average price is $36.35 and its 200-day moving average price is $34.95. The company has a quick ratio of 1.41, a current ratio of 1.48 and a debt-to-equity ratio of 0.84.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.01 billion. APi Group had a return on equity of 21.86% and a net margin of 3.44%.During the same quarter in the prior year, the business earned $0.51 earnings per share. APi Group’s revenue was up 14.2% on a year-over-year basis. As a group, equities research analysts expect that APi Group Corporation will post 1.83 earnings per share for the current year.

Insider Transactions at APi Group

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the completion of the transaction, the director directly owned 18,968,790 shares in the company, valued at approximately $684,583,631.10. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 900,000 shares of company stock valued at $32,342,000 in the last 90 days. 17.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APG. PNC Financial Services Group Inc. lifted its position in APi Group by 5.9% during the first quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company’s stock valued at $194,000 after acquiring an additional 303 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of APi Group by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,881,129 shares of the company’s stock valued at $67,269,000 after purchasing an additional 41,643 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of APi Group by 553.9% during the 1st quarter. Invesco Ltd. now owns 1,125,213 shares of the company’s stock valued at $40,238,000 after purchasing an additional 953,143 shares during the last quarter. Nuveen LLC acquired a new stake in shares of APi Group in the 1st quarter worth $19,058,000. Finally, HighTower Advisors LLC raised its stake in APi Group by 16.3% in the first quarter. HighTower Advisors LLC now owns 16,674 shares of the company’s stock valued at $596,000 after buying an additional 2,335 shares during the last quarter. 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.