APi Group Co. (NYSE:APG – Get Rating) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 5,210,000 shares, a decline of 10.3% from the August 15th total of 5,810,000 shares. Based on an average daily trading volume, of 956,200 shares, the days-to-cover ratio is presently 5.4 days. Currently, 3.3% of the company's shares are short sold.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of APi Group from $24.00 to $18.00 in a report on Monday, July 11th. Bank of America raised shares of APi Group from a "neutral" rating to a "buy" rating and set a $23.00 price objective for the company in a research note on Monday, July 11th. JPMorgan Chase & Co. initiated coverage on shares of APi Group in a research note on Friday, June 17th. They set a "neutral" rating and a $17.00 price objective for the company. Finally, Barclays dropped their target price on APi Group from $24.00 to $21.00 and set an "overweight" rating on the stock in a report on Friday, July 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.17.
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APi Group Stock Down 1.1 %
Shares of NYSE:APG traded down $0.16 during midday trading on Tuesday, reaching $15.01. The company's stock had a trading volume of 31,529 shares, compared to its average volume of 660,758. APi Group has a fifty-two week low of $14.13 and a fifty-two week high of $26.84. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.52 and a current ratio of 1.62. The business's fifty day simple moving average is $16.41 and its 200-day simple moving average is $17.57.
APi Group (NYSE:APG – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. APi Group had a return on equity of 13.70% and a net
margin of 1.08%. The firm had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter last year, the business earned $0.31 earnings per share. The company's revenue was up 68.6% compared to the same quarter last year. On average, sell-side analysts anticipate that APi Group will post 1.33 EPS for the current fiscal year.
Insider Transactions at APi Group
In related news, Director Anthony E. Malkin bought 21,500 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was purchased at an average cost of $15.10 per share, for a total transaction of $324,650.00. Following the completion of the acquisition, the director now owns 77,396 shares in the company, valued at $1,168,679.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Anthony E. Malkin purchased 8,554 shares of the company's stock in a transaction that occurred on Thursday, September 15th. The stock was acquired at an average price of $15.35 per share, for a total transaction of $131,303.90. Following the completion of the purchase, the director now owns 53,757 shares in the company, valued at $825,169.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anthony E. Malkin purchased 21,500 shares of the company's stock in a transaction that occurred on Monday, September 19th. The stock was bought at an average price of $15.10 per share, with a total value of $324,650.00. Following the purchase, the director now owns 77,396 shares of the company's stock, valued at approximately $1,168,679.60. The disclosure for this purchase can be found here. Insiders bought a total of 31,792 shares of company stock worth $482,592 over the last ninety days. 13.70% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On APi Group
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Viking Global Investors LP boosted its stake in APi Group by 0.4% in the 1st quarter. Viking Global Investors LP now owns 33,463,200 shares of the company's stock valued at $703,731,000 after purchasing an additional 129,867 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of APi Group by 2.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,842,581 shares of the company's stock worth $132,372,000 after buying an additional 202,988 shares during the last quarter. FMR LLC lifted its position in shares of APi Group by 39.9% during the 2nd quarter. FMR LLC now owns 6,710,445 shares of the company's stock worth $100,456,000 after buying an additional 1,912,866 shares during the last quarter. Clearbridge Investments LLC increased its holdings in APi Group by 4.1% in the 2nd quarter. Clearbridge Investments LLC now owns 6,450,611 shares of the company's stock worth $96,566,000 after purchasing an additional 253,030 shares in the last quarter. Finally, State Street Corp increased its holdings in APi Group by 3.6% in the 2nd quarter. State Street Corp now owns 3,979,750 shares of the company's stock worth $59,577,000 after purchasing an additional 137,477 shares in the last quarter. Institutional investors and hedge funds own 73.28% of the company's stock.
APi Group Company Profile
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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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