APi Group (NYSE:APG – Get Rating) issued its quarterly earnings results on Thursday. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02, Briefing.com reports. The business had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.66 billion. APi Group had a net margin of 1.04% and a return on equity of 12.06%. The business's quarterly revenue was up 68.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share.
APi Group Stock Up 1.9 %
APi Group stock traded up $0.33 during mid-day trading on Friday, hitting $17.30. The company had a trading volume of 3,365,175 shares, compared to its average volume of 984,196. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of -26.21, a PEG ratio of 0.64 and a beta of 1.41. APi Group has a 1 year low of $14.13 and a 1 year high of $26.84. The company has a quick ratio of 1.53, a current ratio of 1.63 and a debt-to-equity ratio of 1.23. The business has a fifty day moving average of $16.21 and a 200 day moving average of $18.75.
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Insider Buying and Selling at APi Group
In related news, Director Anthony E. Malkin purchased 12,600 shares of the company's stock in a transaction on Friday, June 17th. The shares were bought at an average cost of $14.47 per share, for a total transaction of $182,322.00. Following the completion of the purchase, the director now directly owns 34,396 shares of the company's stock, valued at approximately $497,710.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On APi Group
Several hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its holdings in shares of APi Group by 8.0% in the first quarter. US Bancorp DE now owns 12,978 shares of the company's stock valued at $273,000 after acquiring an additional 965 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of APi Group by 11.9% in the first quarter. Hsbc Holdings PLC now owns 14,264 shares of the company's stock valued at $303,000 after acquiring an additional 1,522 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of APi Group by 1,075.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,914 shares of the company's stock valued at $61,000 after acquiring an additional 2,666 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of APi Group by 541.8% in the first quarter. Lazard Asset Management LLC now owns 3,472 shares of the company's stock valued at $73,000 after acquiring an additional 2,931 shares during the period. Finally, AlphaCrest Capital Management LLC boosted its holdings in shares of APi Group by 24.1% in the first quarter. AlphaCrest Capital Management LLC now owns 16,374 shares of the company's stock valued at $344,000 after acquiring an additional 3,180 shares during the period.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on APG shares. JPMorgan Chase & Co. started coverage on shares of APi Group in a research note on Friday, June 17th. They set a "neutral" rating and a $17.00 target price on the stock. Barclays cut their target price on shares of APi Group from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, July 8th. Bank of America upgraded shares of APi Group from a "neutral" rating to a "buy" rating and set a $23.00 target price on the stock in a research note on Monday, July 11th. Finally, Royal Bank of Canada cut their target price on shares of APi Group from $24.00 to $18.00 in a research note on Monday, July 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.17.
About APi Group
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APi Group Corporation provides safety, specialty, and industrial services in North America, Europe, Australia, and the Asian-Pacific. It operates through three segments: Safety Services, Specialty Services, and Industrial Services. The Safety Services segment offers safety solutions focusing on end-to-end integrated occupancy systems, such as fire protection solutions; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, monitoring, and service of these integrated systems.
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