Royal Bank of Canada Reiterates Outperform Rating for APi Group (NYSE:APG)

Royal Bank of Canada reaffirmed their outperform rating on shares of APi Group (NYSE:APG) in a research note issued to investors on Monday,Benzinga reports. Royal Bank of Canada currently has a $45.00 target price on the stock.

Other analysts have also recently issued research reports about the company. UBS Group cut their target price on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on APi Group from $39.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Barclays raised their price target on APi Group from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Citigroup cut their price target on APi Group from $46.00 to $42.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, Truist Financial restated a “buy” rating and set a $48.00 price target (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, APi Group presently has an average rating of “Moderate Buy” and an average price target of $45.57.

APi Group Stock Performance

NYSE:APG opened at $46.03 on Monday. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. APi Group has a 12-month low of $30.76 and a 12-month high of $48.08. The stock has a 50-day moving average price of $38.33 and a 200 day moving average price of $37.72. The stock has a market capitalization of $12.74 billion, a P/E ratio of -23.37 and a beta of 1.54.

Shares of APi Group are set to split on the morning of Tuesday, July 1st. The 3-2 split was announced on Wednesday, May 21st. The newly minted shares will be distributed to shareholders after the closing bell on Monday, June 30th.

APi Group (NYSE:APG) last released its earnings results on Thursday, May 1st. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the business posted $0.34 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. Equities research analysts forecast that APi Group will post 1.83 EPS for the current fiscal year.

Insider Transactions at APi Group

In other news, Director James E. Lillie sold 50,000 shares of APi Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the completion of the transaction, the director now owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. The trade was a 4.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $42.72, for a total value of $6,408,000.00. Following the completion of the transaction, the director now owns 5,612,102 shares of the company’s stock, valued at approximately $239,748,997.44. This trade represents a 2.60% decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On APi Group

A number of large investors have recently bought and sold shares of the business. Focus Partners Wealth boosted its holdings in APi Group by 19.2% during the 1st quarter. Focus Partners Wealth now owns 254,781 shares of the company’s stock valued at $9,111,000 after acquiring an additional 41,044 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in APi Group by 114.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,802,773 shares of the company’s stock valued at $100,227,000 after acquiring an additional 1,495,268 shares during the period. Goldman Sachs Group Inc. boosted its holdings in APi Group by 73.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,117 shares of the company’s stock valued at $6,369,000 after acquiring an additional 75,490 shares during the period. Select Equity Group L.P. boosted its holdings in APi Group by 36.9% during the 1st quarter. Select Equity Group L.P. now owns 4,521,352 shares of the company’s stock valued at $161,684,000 after acquiring an additional 1,217,554 shares during the period. Finally, BW Gestao de Investimentos Ltda. purchased a new position in APi Group during the 1st quarter valued at $14,276,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

About APi Group

APi Group Corporation provides safety and specialty services worldwide. It operates through Safety Services and Specialty Services segments. The Safety Services segment offers solutions focusing on end-to-end integrated occupancy systems, such as fire protection services; heating, ventilation, and air conditioning solutions; and entry systems, which include the design, installation, inspection, and service of these integrated systems.