APi Group (NYSE:APG) Reaches New 1-Year High – Here’s Why

Shares of APi Group Co. (NYSE:APG) reached a new 52-week high during trading on Thursday . The stock traded as high as $41.27 and last traded at $40.62, with a volume of 66101 shares traded. The stock had previously closed at $40.37.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on APG shares. William Blair reiterated an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. UBS Group reduced their price target on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial began coverage on APi Group in a report on Wednesday, January 22nd. They set a “buy” rating and a $45.00 price objective on the stock. Robert W. Baird raised their price objective on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Finally, Barclays upped their target price on shares of APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.88.

APi Group Trading Up 0.3 %

The stock has a market cap of $11.13 billion, a price-to-earnings ratio of -20.54 and a beta of 1.55. The business has a fifty day simple moving average of $37.33 and a 200 day simple moving average of $35.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

Hedge Funds Weigh In On APi Group

Several large investors have recently added to or reduced their stakes in APG. Western Wealth Management LLC acquired a new position in APi Group during the fourth quarter worth approximately $327,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in APi Group by 6.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,307,505 shares of the company’s stock valued at $47,031,000 after acquiring an additional 80,757 shares in the last quarter. Sovereign s Capital Management LLC purchased a new stake in shares of APi Group during the fourth quarter valued at approximately $1,390,000. Spyglass Capital Management LLC increased its stake in APi Group by 12.9% during the 4th quarter. Spyglass Capital Management LLC now owns 2,070,041 shares of the company’s stock worth $74,459,000 after buying an additional 235,852 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of APi Group by 44.9% in the fourth quarter. Two Sigma Advisers LP now owns 1,296,700 shares of the company’s stock worth $46,642,000 after acquiring an additional 402,100 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

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.