Shares of APi Group Co. (NYSE:APG – Get Rating) traded down 8.1% during trading on Thursday . The stock traded as low as $16.81 and last traded at $16.81. 28,492 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 1,013,613 shares. The stock had previously closed at $18.29.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Bank of America upgraded shares of APi Group from a "neutral" rating to a "buy" rating and set a $23.00 price target on the stock in a research note on Monday, July 11th. Barclays decreased their price target 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. Royal Bank of Canada reduced their price objective on shares of APi Group from $24.00 to $18.00 in a research note on Monday, July 11th. Finally, 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 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.17.
Get APi Group alerts:APi Group Price Performance
The firm's 50-day moving average is $16.23 and its 200-day moving average is $18.84. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.63 and a quick ratio of 1.53.
APi Group (NYSE:APG – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.02. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.41 billion. APi Group had a return on equity of 12.06% and a net margin of 1.04%. The business's revenue for the quarter was up 86.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 EPS. On average, sell-side analysts expect that APi Group Co. will post 1.36 earnings per share for the current year.Insider Transactions at APi Group
In other APi Group news, Director Anthony E. Malkin bought 12,600 shares of the stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this link. Company insiders own 12.70% of the company's stock.
Institutional Trading of APi Group
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. raised its holdings in shares of APi Group by 6,301.4% during the first quarter. Prudential Financial Inc. now owns 880,510 shares of the company's stock valued at $18,517,000 after acquiring an additional 866,755 shares in the last quarter. M.D. Sass Investors Services Inc. grew its stake in shares of APi Group by 99.6% in the fourth quarter. M.D. Sass Investors Services Inc. now owns 1,528,785 shares of the company's stock worth $39,397,000 after acquiring an additional 762,935 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of APi Group by 163.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,203,117 shares of the company's stock worth $25,302,000 after acquiring an additional 746,708 shares during the last quarter. Robeco Schweiz AG grew its stake in shares of APi Group by 17.4% in the first quarter. Robeco Schweiz AG now owns 3,066,900 shares of the company's stock worth $64,497,000 after acquiring an additional 454,998 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of APi Group by 17.6% in the first quarter. Robeco Institutional Asset Management B.V. now owns 3,000,000 shares of the company's stock worth $63,090,000 after acquiring an additional 450,000 shares during the last quarter.
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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