APi Group (NYSE:APG) Shares Down 8.2% – Here’s Why

APi Group Corporation (NYSE:APG)’s stock price dropped 8.2% during mid-day trading on Wednesday . The stock traded as low as $37.26 and last traded at $36.8940. Approximately 2,125,765 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 2,842,151 shares. The stock had previously closed at $40.20.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on APG. Wells Fargo & Company initiated coverage on APi Group in a research report on Tuesday, August 4th. They set an “overweight” rating and a $53.00 price target on the stock. Robert W. Baird set a $47.00 price objective on APi Group in a research report on Friday, July 31st. Wall Street Zen downgraded APi Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Citigroup reissued a “buy” rating and set a $54.00 target price (up from $53.00) on shares of APi Group in a report on Friday, July 31st. Finally, UBS Group set a $52.00 price target on APi Group in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.57.

APi Group Stock Performance

The company’s fifty day simple moving average is $40.83 and its two-hundred day simple moving average is $42.29. 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 stock has a market capitalization of $16.27 billion, a P/E ratio of -56.17, a PEG ratio of 2.21 and a beta of 1.60.

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

Insider Activity at APi Group

In related news, Director Anthony Malkin sold 7,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total value of $297,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ian Ashken sold 85,072 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $40.36, for a total value of $3,433,505.92. Following the completion of the transaction, the director directly owned 9,177,284 shares in the company, valued at approximately $370,395,182.24. This represents a 0.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 667,000 shares of company stock worth $26,650,972 in the last ninety days. 18.70% of the stock is owned by company insiders.

Institutional Trading of APi Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Silicon Valley Capital Partners grew its position in shares of APi Group by 50.0% during the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 286 shares in the last quarter. Parallel Advisors LLC boosted 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 buying an additional 297 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of APi Group by 1,851.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock valued at $29,000 after buying an additional 722 shares during the period. IFP Advisors Inc grew its position in APi Group by 146.7% during the fourth quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after buying an additional 490 shares in the last quarter. Finally, EFG International AG acquired a new stake in APi Group during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Company Profile

APi Group Corporation (NYSE: APG) is a global provider of safety and specialty services for commercial, industrial, infrastructure and residential customers. Through a network of operating companies, it helps customers design, install, inspect, maintain and repair critical building and infrastructure systems.

The company’s services include fire protection and life-safety systems, heating, ventilation and air conditioning, plumbing, electrical work, specialty contracting, industrial maintenance, infrastructure services, security systems, environmental services and emergency response.