APi Group (NYSE:APG) Reaches New 52-Week High After Better-Than-Expected Earnings

APi Group Corporation (NYSE:APG) reached a new 52-week high on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $36.83 and last traded at $36.7970, with a volume of 5235533 shares changing hands. The stock had previously closed at $35.07.

The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the business earned $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.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on APG shares. JPMorgan Chase & Co. upgraded shares of APi Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $42.00 in a research note on Tuesday, July 15th. Barclays reiterated an “overweight” rating and issued a $42.00 price target (up from $40.00) on shares of APi Group in a research note on Monday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of APi Group in a research note on Thursday. Zacks Research lowered shares of APi Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Citigroup lifted their price objective on shares of APi Group from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.24.

Insider Activity

In related news, CAO James Arseniadis sold 4,843 shares of APi Group stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $35.38, for a total transaction of $171,345.34. Following the completion of the sale, the chief accounting officer owned 12,116 shares of the company’s stock, valued at approximately $428,664.08. The trade was a 28.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James E. Lillie sold 190,000 shares of APi Group stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $34.88, for a total transaction of $6,627,200.00. Following the sale, the director directly owned 7,443,101 shares of the company’s stock, valued at $259,615,362.88. The trade was a 2.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,789,843 shares of company stock worth $62,262,672. Insiders own 17.00% of the company’s stock.

Institutional Trading of APi Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in shares of APi Group by 6.7% during the 1st quarter. Signaturefd LLC now owns 4,067 shares of the company’s stock worth $145,000 after buying an additional 256 shares during the period. Amalgamated Bank boosted its holdings in shares of APi Group by 2.3% during the 1st quarter. Amalgamated Bank now owns 12,253 shares of the company’s stock worth $438,000 after buying an additional 279 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of APi Group by 5.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,420 shares of the company’s stock worth $194,000 after buying an additional 303 shares during the period. Whittier Trust Co. boosted its holdings in shares of APi Group by 49.9% during the 3rd quarter. Whittier Trust Co. now owns 1,117 shares of the company’s stock worth $39,000 after buying an additional 372 shares during the period. Finally, Cresset Asset Management LLC boosted its holdings in shares of APi Group by 3.6% during the 1st quarter. Cresset Asset Management LLC now owns 10,693 shares of the company’s stock worth $382,000 after buying an additional 374 shares during the period. Institutional investors own 86.62% of the company’s stock.

APi Group Stock Up 4.9%

The firm has a market cap of $15.30 billion, a P/E ratio of 100.36 and a beta of 1.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.37 and a current ratio of 1.48. The firm’s fifty day moving average is $34.90 and its 200 day moving average is $32.89.

APi Group Company Profile

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.