APi Group (NYSE:APG) Reaches New 52-Week High – Here’s Why

APi Group Corporation (NYSE:APG) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $40.63 and last traded at $40.4620, with a volume of 1273651 shares changing hands. The stock had previously closed at $38.97.

Analyst Ratings Changes

A number of research analysts have recently commented on APG shares. CJS Securities upgraded APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Citigroup reiterated a “buy” rating and set a $45.00 target price (up from $43.00) on shares of APi Group in a research note on Monday, December 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of APi Group in a report on Tuesday, December 23rd. Barclays boosted their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.81.

APi Group Trading Up 3.7%

The business’s 50 day moving average price is $37.99 and its 200-day moving average price is $35.89. The company has a market cap of $16.80 billion, a price-to-earnings ratio of 110.18 and a beta of 1.70. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48.

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

Insider Activity

In related news, Director Martin E. Franklin sold 340,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the completion of the transaction, the director owned 18,968,790 shares in the company, valued at $684,583,631.10. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 900,000 shares of company stock valued at $32,342,000. Corporate insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bares Capital Management Inc. bought a new position in APi Group during the 2nd quarter valued at about $30,000. Clearstead Advisors LLC increased its holdings in shares of APi Group by 105.7% during the third quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after buying an additional 427 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares during the last quarter. Silicon Valley Capital Partners raised its stake in shares of APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 286 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in shares of APi Group in the 3rd quarter worth approximately $31,000. 86.62% of the stock is currently owned by institutional investors and hedge funds.

APi Group Company Profile

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.