APi Group (NYSE:APG) Sets New 12-Month High – Here’s Why

APi Group Corporation (NYSE:APG)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $37.33 and last traded at $37.5920, with a volume of 696735 shares. The stock had previously closed at $36.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on APG shares. Citigroup increased their target price on APi Group from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of APi Group in a research report on Thursday, October 30th. Zacks Research cut shares of APi Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Barclays upped their target price on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, Wall Street Zen raised shares of APi Group from a “hold” rating to a “buy” rating in a research report on Sunday, July 13th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.52.

APi Group Stock Up 4.0%

The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The stock has a market cap of $15.68 billion, a P/E ratio of 102.79 and a beta of 1.63. The company’s 50 day moving average price is $34.89 and its two-hundred day moving average price is $33.47.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the company posted $0.51 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. APi Group has set its FY 2025 guidance at EPS. Equities analysts forecast that APi Group Corporation will post 1.83 earnings per share for the current year.

Insider Buying and Selling at APi Group

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the completion of the transaction, the director owned 18,968,790 shares in the company, valued at $684,583,631.10. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Lillie sold 95,000 shares of APi Group stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $35.23, for a total transaction of $3,346,850.00. Following the completion of the transaction, the director directly owned 7,348,101 shares of the company’s stock, valued at $258,873,598.23. The trade was a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 2,425,550 shares of company stock valued at $85,381,182. Company insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APG. Bridges Investment Management Inc. grew its position in shares of APi Group by 15.4% in the 2nd quarter. Bridges Investment Management Inc. now owns 70,610 shares of the company’s stock worth $3,605,000 after buying an additional 9,435 shares during the last quarter. Equitable Trust Co. boosted its stake in APi Group by 60.5% in the 2nd quarter. Equitable Trust Co. now owns 33,500 shares of the company’s stock worth $1,710,000 after purchasing an additional 12,630 shares in the last quarter. Capital Investment Services of America Inc. boosted its stake in APi Group by 5.4% in the 2nd quarter. Capital Investment Services of America Inc. now owns 397,325 shares of the company’s stock worth $20,283,000 after purchasing an additional 20,337 shares in the last quarter. South Dakota Investment Council purchased a new stake in APi Group during the 2nd quarter worth approximately $2,348,000. Finally, Allianz Asset Management GmbH increased its stake in APi Group by 11.1% during the 2nd quarter. Allianz Asset Management GmbH now owns 228,656 shares of the company’s stock valued at $11,673,000 after purchasing an additional 22,832 shares in the last quarter. 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.