APi Group (NYSE:APG) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of APi Group (NYSE:APG) from a buy rating to a hold rating in a research note released on Saturday.

Several other equities research analysts have also weighed in on APG. Citigroup restated a “buy” rating and set a $54.00 price target (up from $53.00) on shares of APi Group in a research report on Friday. UBS Group set a $52.00 price objective on APi Group in a report on Monday, July 20th. Weiss Ratings lowered APi Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Truist Financial set a $55.00 target price on shares of APi Group and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Barclays reaffirmed an “overweight” rating and issued a $54.00 target price (up from $52.00) on shares of APi Group in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.50.

APi Group Stock Performance

APi Group stock opened at $39.90 on Friday. The stock’s 50 day simple moving average is $41.28 and its two-hundred day simple moving average is $42.68. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.32 and a current ratio of 1.39. The stock has a market cap of $17.28 billion, a price-to-earnings ratio of -59.54, a PEG ratio of 2.32 and a beta of 1.60. APi Group has a fifty-two week low of $33.40 and a fifty-two week high of $49.99.

APi Group (NYSE:APG) last posted its earnings results on Thursday, July 30th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. APi Group had a return on equity of 37.59% and a net margin of 3.99%.The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, analysts expect that APi Group will post 1.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Anthony E. Malkin sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $42.47, for a total transaction of $297,290.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin E. Franklin sold 2,000,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $42.08, for a total value of $84,160,000.00. Following the completion of the sale, the director directly owned 19,240,426 shares in the company, valued at $809,637,126.08. This trade represents a 9.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 18.70% of the company’s stock.

Hedge Funds Weigh In On APi Group

Several institutional investors and hedge funds have recently modified their holdings of APG. Sound Income Strategies LLC bought a new position in APi Group in the 4th quarter worth about $27,000. Cornerstone Planning Group LLC increased its stake in APi Group by 14,720.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 741 shares of the company’s stock valued at $31,000 after purchasing an additional 736 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in APi Group by 1,851.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 761 shares of the company’s stock worth $29,000 after buying an additional 722 shares during the last quarter. IFP Advisors Inc raised its holdings in APi Group by 146.7% in the fourth quarter. IFP Advisors Inc now owns 824 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of APi Group by 55.3% in the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock worth $29,000 after buying an additional 297 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors.

About APi Group

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.