APi Group (NYSE:APG – Get Rating) released its quarterly earnings results on Thursday. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.02, Briefing.com reports. APi Group had a net margin of 1.08% and a return on equity of 13.48%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm earned $0.31 EPS. APi Group's revenue was up 68.6% on a year-over-year basis.
APi Group Stock Up 1.9 %
APG traded up $0.33 on Friday, reaching $17.30. 3,365,800 shares of the company traded hands, compared to its average volume of 1,042,676. The stock's 50 day moving average price is $16.21 and its 200-day moving average price is $18.75. APi Group has a 52-week low of $14.13 and a 52-week high of $26.84. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.53 and a current ratio of 1.63.
Get APi Group alerts:Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of APi Group from $24.00 to $18.00 in a research note on Monday, July 11th. JPMorgan Chase & Co. began coverage on shares of APi Group in a research report on Friday, June 17th. They issued a "neutral" rating and a $17.00 target price on the stock. Barclays dropped 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 report on Friday, July 8th. Finally, Bank of America raised 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 report on Monday, July 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.17.
Insider Activity at APi Group
In related news, Director Anthony E. Malkin acquired 12,600 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were purchased at an average cost of $14.47 per share, with a total value of $182,322.00. Following the completion of the transaction, the director now 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 available at this link. 12.70% of the stock is currently owned by insiders.Institutional Trading of APi Group
A number of institutional investors have recently added to or reduced their stakes in APG. JPMorgan Chase & Co. lifted its stake in APi Group by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 207,347 shares of the company's stock valued at $4,360,000 after acquiring an additional 8,460 shares during the last quarter. US Bancorp DE lifted its stake 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 worth $273,000 after buying an additional 965 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake 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 worth $61,000 after buying an additional 2,666 shares during the last quarter. AlphaCrest Capital Management LLC lifted its stake 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 worth $344,000 after buying an additional 3,180 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of APi Group by 57.0% in the first quarter. MetLife Investment Management LLC now owns 107,748 shares of the company's stock worth $2,266,000 after buying an additional 39,118 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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