APi Group (NYSE:APG) Stock Price Up 6.8% – Here’s What Happened

APi Group Co. (NYSE:APG) shares shot up 6.8% during trading on Wednesday . The stock 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.

Analysts Set New Price Targets

APG has been the topic of a number of analyst reports. Barclays upped their price target on APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Truist Financial started coverage on shares of APi Group in a research report on Wednesday, January 22nd. They set a “buy” rating and a $45.00 target price for the company. Robert W. Baird boosted their price target on shares of APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Royal Bank of Canada raised shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Tuesday, January 14th. Finally, William Blair reissued an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. One equities 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.88.

APi Group Stock Down 2.5 %

The company has a market cap of $10.95 billion, a price-to-earnings ratio of -20.23 and a beta of 1.55. The stock’s 50-day moving average is $37.42 and its 200-day moving average is $35.80. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

Hedge Funds Weigh In On APi Group

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in APi Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 23,124,584 shares of the company’s stock valued at $831,791,000 after buying an additional 127,038 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of APi Group by 20.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,627,444 shares of the company’s stock valued at $562,120,000 after acquiring an additional 2,602,758 shares in the last quarter. Capital Research Global Investors raised its position in shares of APi Group by 118.2% during the fourth quarter. Capital Research Global Investors now owns 10,947,284 shares of the company’s stock worth $393,774,000 after purchasing an additional 5,931,314 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of APi Group by 19.2% in the 4th quarter. Janus Henderson Group PLC now owns 10,003,065 shares of the company’s stock worth $359,811,000 after purchasing an additional 1,611,744 shares in the last quarter. Finally, Durable Capital Partners LP boosted its stake in APi Group by 199.8% during the 4th quarter. Durable Capital Partners LP now owns 5,007,539 shares of the company’s stock valued at $180,121,000 after purchasing an additional 3,337,468 shares during the last quarter. Institutional investors and hedge funds 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.