APi Group (NYSE:APG) Shares Down 8.1%

Shares of APi Group Co. (NYSE:APGGet Rating) were down 8.1% during trading on Thursday . The stock traded as low as $16.81 and last traded at $16.81. Approximately 28,492 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 1,013,613 shares. The stock had previously closed at $18.29.

Analysts Set New Price Targets

Several analysts have commented on APG shares. 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 decreased their price target on shares of APi Group from $24.00 to $18.00 in a research note on Monday, July 11th. JPMorgan Chase & Co. started coverage on shares of APi Group in a research note on Friday, June 17th. They issued a “neutral” rating and a $17.00 price target on the stock. Finally, 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, APi Group has an average rating of “Moderate Buy” and a consensus target price of $22.17.

APi Group Stock Performance

The firm’s 50-day moving average price is $16.21 and its 200-day moving average price is $18.75. The company has a current ratio of 1.63, a quick ratio of 1.53 and a debt-to-equity ratio of 1.23.

APi Group (NYSE:APGGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.66 billion. APi Group had a net margin of 1.08% and a return on equity of 13.48%. The business’s revenue was up 68.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. As a group, sell-side analysts expect that APi Group Co. will post 1.36 EPS for the current year.

Insider Activity

In other news, Director Anthony E. Malkin purchased 12,600 shares of the business’s stock in a transaction that occurred 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 acquisition, 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 can be accessed through the SEC website. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On APi Group

Several hedge funds have recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. grew its stake in APi Group by 108.7% in the 2nd quarter. Thornburg Investment Management Inc. now owns 359,144 shares of the company’s stock worth $5,376,000 after acquiring an additional 187,083 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in APi Group by 5.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 130,934 shares of the company’s stock worth $1,960,000 after acquiring an additional 6,748 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in APi Group by 6.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 110,655 shares of the company’s stock worth $1,657,000 after acquiring an additional 6,990 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in APi Group by 13.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,760 shares of the company’s stock worth $101,000 after acquiring an additional 800 shares in the last quarter. Finally, Robeco Schweiz AG grew its stake in APi Group by 3.5% in the 2nd quarter. Robeco Schweiz AG now owns 3,175,500 shares of the company’s stock worth $47,537,000 after acquiring an additional 108,600 shares in the last quarter.

APi Group Company Profile

(Get Rating)

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.

Further Reading

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