APi Group (NYSE:APG) Cut to Hold at Wall Street Zen
by Amy Steele · The Cerbat GemWall Street Zen lowered shares of APi Group (NYSE:APG – Free Report) from a buy rating to a hold rating in a report issued on Saturday morning.
APG has been the subject of a number of other reports. UBS Group lifted their target price on APi Group from $49.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings restated a “hold (c+)” rating on shares of APi Group in a research note on Monday, December 22nd. Citigroup lifted their target price on APi Group from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Truist Financial lifted their target price on APi Group from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Barclays lifted their target price 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 analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.57.
Check Out Our Latest Research Report on APG
APi Group Stock Up 4.2%
NYSE:APG opened at $48.71 on Friday. The company has a market capitalization of $21.07 billion, a price-to-earnings ratio of -64.37, a price-to-earnings-growth ratio of 2.79 and a beta of 1.68. APi Group has a one year low of $22.16 and a one year high of $48.76. The stock has a 50-day simple moving average of $43.06 and a 200 day simple moving average of $40.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.43 and a current ratio of 1.50.
APi Group (NYSE:APG – Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. APi Group’s quarterly revenue was up 13.8% compared to the same quarter last year. Sell-side analysts predict that APi Group will post 1.67 EPS for the current fiscal year.
Insider Transactions at APi Group
In other news, Director Ian G. H. Ashken sold 114,409 shares of the business’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 approximately $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 SEC, which is accessible through the SEC website. Also, Director James E. Lillie sold 100,888 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $44.30, for a total value of $4,469,338.40. Following the transaction, the director owned 9,706,462 shares of the company’s stock, valued at approximately $429,996,266.60. This represents a 1.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,682,000 shares of company stock worth $152,333,385. Company insiders own 18.70% of the company’s stock.
Hedge Funds Weigh In On APi Group
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of APi Group by 49.6% during the third quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock worth $1,207,719,000 after buying an additional 11,644,990 shares during the period. Janus Henderson Group PLC boosted its position in shares of APi Group by 4.0% during the fourth quarter. Janus Henderson Group PLC now owns 23,116,168 shares of the company’s stock worth $884,409,000 after buying an additional 887,729 shares during the period. Durable Capital Partners LP boosted its position in shares of 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 buying an additional 4,274,610 shares during the period. Viking Global Investors LP boosted its position in shares of APi Group by 6.7% during the third quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock worth $422,967,000 after buying an additional 768,759 shares during the period. Finally, State Street Corp boosted its position in shares of APi Group by 0.8% during the fourth quarter. State Street Corp now owns 10,863,164 shares of the company’s stock worth $415,625,000 after buying an additional 91,388 shares during the period. 86.62% of the stock is currently 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.