Short Interest in APi Group Co. (NYSE:APG) Decreases By 16.8%

APi Group Co. (NYSE:APG) was the target of a significant decline in short interest in February. As of February 15th, there was short interest totalling 2,930,000 shares, a decline of 16.8% from the January 31st total of 3,520,000 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is presently 2.2 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on APG. William Blair reissued an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Barclays raised their price objective on APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Citigroup dropped their target price on APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Truist Financial reiterated a “buy” rating and set a $48.00 target price (up from $45.00) on shares of APi Group in a research report on Thursday, February 27th. Finally, Royal Bank of Canada upgraded APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, APi Group currently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

APi Group Trading Up 1.1 %

Shares of NYSE APG traded up $0.39 during midday trading on Wednesday, hitting $37.20. The stock had a trading volume of 1,745,042 shares, compared to its average volume of 1,619,439. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96. APi Group has a 1-year low of $31.44 and a 1-year high of $41.31. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of -18.88 and a beta of 1.54. The company has a fifty day moving average price of $37.65 and a 200 day moving average price of $36.09.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APG. First Horizon Advisors Inc. acquired a new stake in shares of APi Group in the third quarter worth $26,000. Blue Trust Inc. increased its holdings in APi Group by 92.3% in the 4th quarter. Blue Trust Inc. now owns 804 shares of the company’s stock valued at $27,000 after purchasing an additional 386 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in APi Group in the fourth quarter valued at about $34,000. Avior Wealth Management LLC acquired a new position in shares of APi Group during the third quarter worth about $33,000. Finally, R Squared Ltd acquired a new position in shares of APi Group during the fourth quarter worth about $85,000. Hedge funds and other institutional investors own 86.62% of the company’s stock.

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.