APi Group (NYSE:APG) Sees Unusually-High Trading Volume

APi Group Co. (NYSE:APG) shares saw strong trading volume on Friday . 603,883 shares changed hands during mid-day trading, a decline of 63% from the previous session’s volume of 1,619,878 shares.The stock last traded at $39.19 and had previously closed at $38.47.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on APi Group from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. UBS Group upped their target price on APi Group from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Royal Bank of Canada upped their target price on APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a research report on Monday, April 8th. Citigroup upped their target price on APi Group from $43.00 to $47.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Jefferies Financial Group initiated coverage on APi Group in a research report on Friday, March 15th. They issued a “buy” rating and a $48.00 target price for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.29.

APi Group Stock Performance

The company has a quick ratio of 1.26, a current ratio of 1.35 and a debt-to-equity ratio of 1.14. The stock has a fifty day moving average price of $37.32 and a two-hundred day moving average price of $35.99.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. APi Group had a return on equity of 37.83% and a net margin of 2.49%. APi Group’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. Equities research analysts anticipate that APi Group Co. will post 1.88 EPS for the current fiscal year.

Insider Buying and Selling

In other APi Group news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $38.15, for a total value of $74,460,483.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of APi Group stock in a transaction on Monday, June 17th. The stock was sold at an average price of $38.15, for a total value of $74,460,483.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian G. H. Ashken sold 150,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $37.21, for a total value of $5,581,500.00. Following the transaction, the director now owns 5,828,779 shares of the company’s stock, valued at $216,888,866.59. The disclosure for this sale can be found here. 16.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On APi Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its stake in APi Group by 6,312.4% during the first quarter. Janus Henderson Group PLC now owns 4,884,712 shares of the company’s stock worth $191,822,000 after purchasing an additional 4,808,536 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in APi Group during the fourth quarter worth about $159,751,000. Blackstone Inc. bought a new stake in APi Group during the first quarter worth about $139,191,000. Gates Capital Management Inc. bought a new stake in APi Group during the fourth quarter worth about $111,729,000. Finally, Capital Research Global Investors lifted its stake in APi Group by 271.2% during the first quarter. Capital Research Global Investors now owns 4,321,383 shares of the company’s stock worth $169,701,000 after purchasing an additional 3,157,283 shares during the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

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.