APi Group (NYSE:APG) Raised to Outperform at Royal Bank of Canada

APi Group (NYSE:APG) was upgraded by equities researchers at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $45.00 price target on the stock. Royal Bank of Canada’s target price suggests a potential upside of 25.77% from the stock’s current price.

A number of other equities analysts also recently weighed in on APG. Barclays boosted their target price on shares of APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Citigroup dropped their price objective on shares of APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday. William Blair reaffirmed an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. Finally, Robert W. Baird lifted their target price on APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.14.

APi Group Stock Performance

NYSE:APG opened at $35.78 on Tuesday. The stock has a market capitalization of $9.83 billion, a P/E ratio of -18.16 and a beta of 1.55. 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 1 year low of $31.16 and a 1 year high of $40.89. The firm has a 50 day moving average of $37.00 and a 200-day moving average of $35.54.

APi Group (NYSE:APG) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that APi Group will post 1.83 EPS for the current fiscal year.

Insider Activity at APi Group

In related news, Director James E. Lillie sold 11,568 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.98, for a total transaction of $427,784.64. Following the sale, the director now owns 1,134,635 shares of the company’s stock, valued at approximately $41,958,802.30. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ian G. H. Ashken sold 53,868 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total value of $1,986,113.16. Following the completion of the transaction, the director now directly owns 5,478,779 shares of the company’s stock, valued at approximately $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On APi Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Advantage Alpha Capital Partners LP raised its stake in shares of APi Group by 79.6% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 269,087 shares of the company’s stock valued at $8,885,000 after purchasing an additional 119,229 shares during the period. GSA Capital Partners LLP bought a new position in shares of APi Group during the third quarter worth about $881,000. Dynamic Technology Lab Private Ltd bought a new stake in APi Group in the 3rd quarter valued at approximately $2,586,000. Oppenheimer Asset Management Inc. boosted its position in APi Group by 60.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 99,647 shares of the company’s stock worth $3,290,000 after acquiring an additional 37,531 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of APi Group during the 3rd quarter worth approximately $3,213,000. 86.62% of the stock is currently owned by institutional investors and hedge funds.

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.