APi Group (NYSE:APG) Hits New 12-Month High – What’s Next?

APi Group Corporation (NYSE:APG) shares hit a new 52-week high during trading on Saturday . The stock traded as high as $46.89 and last traded at $46.6380, with a volume of 8411796 shares. The stock had previously closed at $44.39.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on APG shares. UBS Group lifted their price objective on shares of APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen lowered APi Group from a “buy” rating to a “hold” rating in a report on Saturday. Citigroup boosted their price target on APi Group from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. Finally, Barclays raised their price objective on APi Group from $44.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. One equities research 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 company’s stock. Based on data from MarketBeat.com, APi Group currently has an average rating of “Moderate Buy” and an average target price of $48.57.

APi Group Stock Performance

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50. The stock’s 50-day simple moving average is $42.98 and its two-hundred day simple moving average is $39.99. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of -61.64, a price-to-earnings-growth ratio of 2.65 and a beta of 1.68.

APi Group (NYSE:APG) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. APi Group had a return on equity of 37.92% and a net margin of 3.70%.The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business posted $0.51 earnings per share. The firm’s revenue was up 13.8% compared to the same quarter last year. Analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ian G. H. Ashken sold 114,409 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $43.12, for a total transaction of $4,933,316.08. Following the completion of the transaction, the director directly owned 10,633,830 shares in the company, valued at $458,530,749.60. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Lillie sold 100,888 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $44.30, for a total value of $4,469,338.40. Following the completion of the sale, the director directly owned 9,706,462 shares of the company’s stock, valued at $429,996,266.60. This represents a 1.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,682,000 shares of company stock valued at $152,333,385 in the last three months. Company insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On APi Group

A number of institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its holdings in APi Group by 47.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 337,089 shares of the company’s stock valued at $11,586,000 after buying an additional 108,433 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of APi Group by 48.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 674,203 shares of the company’s stock worth $23,172,000 after acquiring an additional 220,551 shares during the period. Bessemer Group Inc. boosted its position in shares of APi Group by 72.1% during the 3rd quarter. Bessemer Group Inc. now owns 4,960,278 shares of the company’s stock valued at $170,485,000 after acquiring an additional 2,077,705 shares in the last quarter. Truist Financial Corp increased its stake in APi Group by 29.5% in the third quarter. Truist Financial Corp now owns 189,800 shares of the company’s stock valued at $6,523,000 after acquiring an additional 43,202 shares during the period. Finally, Bridges Investment Management Inc. increased its stake in APi Group by 59.6% in the third quarter. Bridges Investment Management Inc. now owns 112,721 shares of the company’s stock valued at $3,874,000 after acquiring an additional 42,111 shares during the period. 86.62% of the stock is owned by institutional investors and hedge funds.

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.