APi Group (NYSE:APG) Sets New 52-Week High – Still a Buy?

APi Group Co. (NYSE:APG)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $46.30 and last traded at $46.09, with a volume of 104203 shares trading hands. The stock had previously closed at $46.00.

Analyst Upgrades and Downgrades

APG has been the topic of several analyst reports. Barclays lifted their price target on shares of APi Group from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Citigroup dropped their price target on shares of APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, April 14th. UBS Group lowered their price objective on shares of APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Robert W. Baird boosted their target price on APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Truist Financial restated a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, APi Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.57.

APi Group Price Performance

The company has a 50 day moving average price of $37.95 and a 200 day moving average price of $37.60. The firm has a market cap of $12.74 billion, a PE ratio of -23.36 and a beta of 1.54. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

APi Group (NYSE:APG) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the business posted $0.34 earnings per share. APi Group’s revenue was up 7.4% compared to the same quarter last year. On average, sell-side analysts expect that APi Group Co. will post 1.83 EPS for the current year.

Insider Activity

In related news, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the sale, the director now directly owns 1,046,203 shares in the company, valued at $39,724,327.91. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian G. H. Ashken sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $42.72, for a total value of $6,408,000.00. Following the completion of the sale, the director now owns 5,612,102 shares of the company’s stock, valued at $239,748,997.44. This trade represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On APi Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in APi Group by 92.3% during the fourth quarter. Blue Trust Inc. now owns 804 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares during the last quarter. SVB Wealth LLC acquired a new stake in APi Group in the 1st quarter worth $38,000. First Horizon Advisors Inc. lifted its position in shares of APi Group by 53.4% in the 4th quarter. First Horizon Advisors Inc. now owns 1,190 shares of the company’s stock worth $43,000 after acquiring an additional 414 shares during the period. GAMMA Investing LLC increased its stake in APi Group by 105.5% in the first quarter. GAMMA Investing LLC now owns 1,529 shares of the company’s stock valued at $55,000 after acquiring an additional 785 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of APi Group by 339.0% in the 1st quarter. Versant Capital Management Inc now owns 1,633 shares of the company’s stock valued at $58,000 after purchasing an additional 1,261 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

APi Group Company Profile

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.