Shares of APi Group Corporation (NYSE:APG – Get Free Report) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $52.1429.
APG has been the topic of a number of recent research reports. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 11th. Barclays reiterated an “overweight” rating and set a $54.00 price objective (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. Citigroup reissued a “buy” rating and set a $53.00 target price (up from $52.00) on shares of APi Group in a report on Friday, May 1st. Truist Financial set a $55.00 target price on shares of APi Group and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Robert W. Baird set a $52.00 price target on shares of APi Group in a research note on Friday, May 1st.
Read Our Latest Research Report on APi Group
APi Group Price Performance
APi Group (NYSE:APG – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.92 billion. APi Group had a net margin of 3.85% and a return on equity of 37.63%. APi Group’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. Equities analysts forecast that APi Group will post 1.71 EPS for the current year.
Insider Buying and Selling at APi Group
In other APi Group news, Director James E. Lillie sold 225,539 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $44.87, for a total transaction of $10,119,934.93. Following the transaction, the director owned 9,296,811 shares in the company, valued at $417,147,909.57. This represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martin E. Franklin sold 2,000,000 shares of APi Group stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the sale, the director owned 19,240,426 shares of the company’s stock, valued at approximately $809,637,126.08. The trade was a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,451,000 shares of company stock worth $149,194,935. 18.70% of the stock is currently owned by company insiders.
Institutional Trading of APi Group
A number of institutional investors have recently modified their holdings of APG. Norges Bank acquired a new stake in APi Group in the fourth quarter valued at about $181,066,000. Durable Capital Partners LP raised its stake in APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after acquiring an additional 4,274,610 shares in the last quarter. State Street Corp lifted its holdings in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock worth $370,226,000 after acquiring an additional 3,620,931 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of APi Group by 224.6% in the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock worth $175,627,000 after acquiring an additional 3,535,682 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of APi Group in the 4th quarter valued at approximately $132,125,000. 86.62% of the stock is currently owned by institutional investors.
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.
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