APi Group (NYSE:APG) Rating Increased to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of APi Group (NYSE:APG) to a strong-buy rating in a research note published on Tuesday morning, MarketBeat Ratings reports.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Citigroup restated a “buy” rating and set a $54.00 target price (up from $53.00) on shares of APi Group in a research report on Friday. Truist Financial set a $55.00 price target on APi Group and gave the company a “buy” rating in a research note on Friday, May 1st. Barclays reaffirmed an “overweight” rating and issued a $54.00 price target (up from $52.00) on shares of APi Group in a report on Thursday, May 7th. Finally, UBS Group set a $52.00 price target on APi Group in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, APi Group currently has a consensus rating of “Buy” and an average target price of $52.57.

APi Group Stock Performance

APG opened at $41.52 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.32. The firm has a fifty day moving average price of $41.26 and a 200 day moving average price of $42.68. APi Group has a 1 year low of $33.40 and a 1 year high of $49.99. The stock has a market cap of $17.94 billion, a P/E ratio of -61.97, a P/E/G ratio of 2.32 and a beta of 1.60.

APi Group (NYSE:APG) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. APi Group had a net margin of 3.99% and a return on equity of 37.59%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. Equities research analysts anticipate that APi Group will post 1.72 earnings per share for the current year.

Insider Activity

In related news, Director Martin E. Franklin sold 2,000,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $42.08, for a total transaction of $84,160,000.00. Following the completion of the transaction, the director owned 19,240,426 shares in the company, valued at $809,637,126.08. This represents a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anthony E. Malkin sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $42.47, for a total transaction of $297,290.00. The SEC filing for this sale provides additional information. 18.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On APi Group

Large investors have recently bought and sold shares of the company. Leverty Financial Group LLC purchased a new position in shares of APi Group in the second quarter valued at approximately $201,000. Tema ETFs LLC boosted its stake in shares of APi Group by 3.9% in the second quarter. Tema ETFs LLC now owns 214,419 shares of the company’s stock worth $9,081,000 after acquiring an additional 8,010 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of APi Group by 6.1% during the second quarter. Wealthcare Advisory Partners LLC now owns 7,096 shares of the company’s stock worth $301,000 after purchasing an additional 410 shares in the last quarter. Arista Wealth Management LLC increased its position in shares of APi Group by 1.4% during the second quarter. Arista Wealth Management LLC now owns 19,125 shares of the company’s stock worth $810,000 after purchasing an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in APi Group by 9.1% in the 2nd quarter. GAMMA Investing LLC now owns 6,529 shares of the company’s stock valued at $277,000 after purchasing an additional 545 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

APi Group Company Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.