Robert W. Baird Forecasts Strong Price Appreciation for APi Group (NYSE:APG) Stock

APi Group (NYSE:APG) had its target price boosted by equities researchers at Robert W. Baird from $47.00 to $51.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 11.82% from the company’s current price.

Several other research analysts have also issued reports on the company. Barclays increased their target price on APi Group from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. UBS Group raised their price objective on APi Group from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of APi Group in a research report on Monday, May 19th. Citigroup reduced their price objective on APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Truist Financial raised their price objective on APi Group from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, APi Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.57.

APi Group Stock Down 0.2%

Shares of NYSE:APG opened at $45.61 on Thursday. APi Group has a 52-week low of $30.76 and a 52-week high of $48.08. The firm has a market capitalization of $12.63 billion, a P/E ratio of -23.15 and a beta of 1.54. The stock has a 50 day moving average price of $38.66 and a 200-day moving average price of $37.86. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

Shares of APi Group are set to split before the market opens on Tuesday, July 1st. The 3-2 split was announced on Wednesday, May 21st. The newly minted shares will be issued to shareholders after the closing bell on Monday, June 30th.

APi Group (NYSE:APG) last announced its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) 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 firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company earned $0.34 EPS. The business’s revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that APi Group will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling at APi Group

In other APi Group news, Director James E. Lillie sold 50,000 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 approximately $39,724,327.91. This trade represents a 4.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $42.72, for a total value of $6,408,000.00. Following the sale, the director now owns 5,612,102 shares in the company, valued at approximately $239,748,997.44. This represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Institutional Trading of APi Group

Several institutional investors have recently added to or reduced their stakes in APG. Blue Trust Inc. boosted its stake in APi Group by 92.3% during the 4th 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 purchased a new position in shares of APi Group in the 1st quarter worth $38,000. First Horizon Advisors Inc. boosted its stake 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 buying an additional 414 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of APi Group by 105.5% in the 1st quarter. GAMMA Investing LLC now owns 1,529 shares of the company’s stock worth $55,000 after buying an additional 785 shares during the last quarter. 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 worth $58,000 after buying an additional 1,261 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

About APi Group

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.