APi Group (NYSE:APG) Posts Earnings Results

APi Group (NYSE:APGGet Rating) released its quarterly earnings results on Thursday. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02, Briefing.com reports. APi Group had a net margin of 1.08% and a return on equity of 13.48%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $0.31 EPS. APi Group’s revenue was up 68.6% on a year-over-year basis.

APi Group Stock Up 1.9 %

APG traded up $0.33 on Friday, reaching $17.30. 3,365,800 shares of the company traded hands, compared to its average volume of 1,042,676. The stock’s 50 day moving average price is $16.21 and its 200-day moving average price is $18.75. APi Group has a 52-week low of $14.13 and a 52-week high of $26.84. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.53 and a current ratio of 1.63.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of APi Group from $24.00 to $18.00 in a research note on Monday, July 11th. JPMorgan Chase & Co. began coverage on shares of APi Group in a research report on Friday, June 17th. They issued a “neutral” rating and a $17.00 target price on the stock. Barclays dropped their target price on shares of APi Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Finally, Bank of America raised shares of APi Group from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Monday, July 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.17.

Insider Activity at APi Group

In related news, Director Anthony E. Malkin acquired 12,600 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were purchased at an average cost of $14.47 per share, with a total value of $182,322.00. Following the completion of the transaction, the director now owns 34,396 shares of the company’s stock, valued at approximately $497,710.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.70% of the stock is currently owned by insiders.

Institutional Trading of APi Group

A number of institutional investors have recently added to or reduced their stakes in APG. JPMorgan Chase & Co. lifted its stake in APi Group by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 207,347 shares of the company’s stock valued at $4,360,000 after acquiring an additional 8,460 shares during the last quarter. US Bancorp DE lifted its stake in shares of APi Group by 8.0% in the first quarter. US Bancorp DE now owns 12,978 shares of the company’s stock worth $273,000 after buying an additional 965 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of APi Group by 1,075.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,914 shares of the company’s stock worth $61,000 after buying an additional 2,666 shares during the last quarter. AlphaCrest Capital Management LLC lifted its stake in shares of APi Group by 24.1% in the first quarter. AlphaCrest Capital Management LLC now owns 16,374 shares of the company’s stock worth $344,000 after buying an additional 3,180 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of APi Group by 57.0% in the first quarter. MetLife Investment Management LLC now owns 107,748 shares of the company’s stock worth $2,266,000 after buying an additional 39,118 shares during the last quarter.

About APi Group

(Get Rating)

APi Group Corporation provides safety, specialty, and industrial services in North America, Europe, Australia, and the Asian-Pacific. It operates through three segments: Safety Services, Specialty Services, and Industrial Services. The Safety Services segment offers safety solutions focusing on end-to-end integrated occupancy systems, such as fire protection solutions; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, monitoring, and service of these integrated systems.

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Earnings History for APi Group (NYSE:APG)

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