APi Group (NYSE:APG) Upgraded to Strong-Buy at Wells Fargo & Company

APi Group (NYSE:APG) was upgraded by equities research analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued on Tuesday, MarketBeat reports.

Other analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 11th. Wall Street Zen downgraded APi Group from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup reaffirmed a “buy” rating and issued a $54.00 target price (up from $53.00) on shares of APi Group in a report on Friday. Robert W. Baird set a $47.00 price target on APi Group in a research report on Friday. Finally, UBS Group set a $52.00 price objective on APi Group in a research note on Monday, July 20th. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $52.57.

APi Group Stock Performance

Shares of APG stock opened at $41.52 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.91. The firm has a fifty day simple moving average of $41.26 and a two-hundred day simple moving average of $42.68. The firm has a market capitalization of $17.94 billion, a PE ratio of -61.97, a price-to-earnings-growth ratio of 2.32 and a beta of 1.60. APi Group has a 12 month low of $33.40 and a 12 month high of $49.99.

APi Group (NYSE:APG) last posted its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, beating 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 last year, the company earned $0.39 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts forecast that APi Group will post 1.72 EPS 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 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 transaction, the director directly owned 19,240,426 shares of the company’s stock, valued at approximately $809,637,126.08. This represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony E. Malkin sold 7,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total value of $297,290.00. Additional details regarding this sale are available in the official SEC disclosure. 18.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On APi Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Leverty Financial Group LLC bought a new position in shares of APi Group in the second quarter valued at approximately $201,000. Tema ETFs LLC grew its position in APi Group by 3.9% during the second quarter. Tema ETFs LLC now owns 214,419 shares of the company’s stock valued at $9,081,000 after acquiring an additional 8,010 shares during the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of APi Group by 6.1% during the second quarter. Wealthcare Advisory Partners LLC now owns 7,096 shares of the company’s stock worth $301,000 after acquiring an additional 410 shares in the last quarter. Arista Wealth Management LLC raised its stake in shares of APi Group by 1.4% during the second quarter. Arista Wealth Management LLC now owns 19,125 shares of the company’s stock worth $810,000 after acquiring an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of APi Group by 9.1% in the 2nd quarter. GAMMA Investing LLC now owns 6,529 shares of the company’s stock worth $277,000 after acquiring an additional 545 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.