APi Group (NYSE:APG) Reaches New 52-Week High – Still a Buy?

APi Group Corporation (NYSE:APG) reached a new 52-week high on Friday . The stock traded as high as $44.00 and last traded at $43.6940, with a volume of 184552 shares trading hands. The stock had previously closed at $42.98.

Analysts Set New Price Targets

APG has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of APi Group in a research report on Monday, December 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of APi Group in a research note on Tuesday, December 23rd. Truist Financial lifted their price objective on shares of APi Group from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. CJS Securities upgraded shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Finally, UBS Group set a $49.00 price target on shares of APi Group and gave the company a “buy” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.24.

APi Group Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The company has a market capitalization of $18.53 billion, a P/E ratio of 121.50 and a beta of 1.70. The firm’s fifty day moving average is $40.58 and its 200 day moving average is $37.27.

Insider Activity

In other APi Group news, Director Anthony E. Malkin acquired 3,000 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were bought at an average price of $39.58 per share, with a total value of $118,740.00. Following the transaction, the director directly owned 7,000 shares of the company’s stock, valued at $277,060. The trade was a 75.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last three months, insiders purchased 7,000 shares of company stock worth $275,720. 17.00% of the stock is currently owned by company insiders.

Institutional Trading of APi Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in APi Group by 49.6% during the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after buying an additional 11,644,990 shares in the last quarter. Durable Capital Partners LP increased its position in shares of APi Group by 40.2% during the third quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock worth $512,050,000 after acquiring an additional 4,274,610 shares during the period. Viking Global Investors LP raised its stake in shares of APi Group by 6.7% during the third quarter. Viking Global Investors LP now owns 12,306,277 shares of the company’s stock valued at $422,967,000 after acquiring an additional 768,759 shares in the last quarter. State Street Corp boosted its holdings in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after purchasing an additional 3,620,931 shares during the period. Finally, Findlay Park Partners LLP grew its stake in APi Group by 13.1% in the third quarter. Findlay Park Partners LLP now owns 7,540,068 shares of the company’s stock worth $259,152,000 after purchasing an additional 873,420 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.