APi Group (NYSE:APG) Trading 6.8% Higher – Here’s What Happened

APi Group Co. (NYSE:APG)’s stock price shot up 6.8% during trading on Wednesday . The company traded as high as $40.23 and last traded at $40.01. 1,408,616 shares were traded during trading, an increase of 26% from the average session volume of 1,117,903 shares. The stock had previously closed at $37.46.

Wall Street Analyst Weigh In

Several brokerages have weighed in on APG. Barclays lifted their price objective 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. Truist Financial started coverage on APi Group in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $45.00 price target for the company. UBS Group reduced their price target on APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup dropped their price objective on APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, APi Group has a consensus rating of “Moderate Buy” and a consensus target price of $42.88.

APi Group Stock Down 2.5 %

The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. The firm has a 50 day moving average of $37.42 and a two-hundred day moving average of $35.80. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of -20.23 and a beta of 1.55.

Institutional Investors Weigh In On APi Group

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in APi Group in the 3rd quarter valued at approximately $165,000. Raymond James & Associates lifted its stake in shares of APi Group by 20.2% in the 3rd quarter. Raymond James & Associates now owns 173,774 shares of the company’s stock valued at $5,738,000 after acquiring an additional 29,175 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of APi Group during the 3rd quarter valued at $943,000. Assenagon Asset Management S.A. grew its position in APi Group by 412.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,044,034 shares of the company’s stock worth $34,474,000 after acquiring an additional 840,452 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in APi Group by 1.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 72,493 shares of the company’s stock worth $2,394,000 after purchasing an additional 1,095 shares in the last quarter. 86.62% of the stock is currently owned by institutional investors and hedge funds.

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.