Short Interest in APi Group Co. (NYSE:APG) Decreases By 7.2%

APi Group Co. (NYSE:APG) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 6,080,000 shares, a decrease of 7.2% from the May 31st total of 6,550,000 shares. Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is currently 3.5 days. Currently, 4.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on APG shares. Royal Bank of Canada raised their price target on shares of APi Group from $36.00 to $45.00 and gave the company a “sector perform” rating in a research note on Monday, April 8th. Citigroup increased their price objective on shares of APi Group from $43.00 to $47.00 and gave the company a “buy” rating in a report on Monday, April 8th. Robert W. Baird increased their price objective on shares of APi Group from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Jefferies Financial Group assumed coverage on shares of APi Group in a report on Friday, March 15th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of APi Group from $31.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.

APi Group Trading Up 0.9 %

Shares of NYSE:APG opened at $36.86 on Thursday. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of -17.14, a PEG ratio of 1.07 and a beta of 1.57. APi Group has a 1-year low of $24.61 and a 1-year high of $39.98. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.26 and a current ratio of 1.35. The company has a 50 day moving average price of $37.27 and a 200 day moving average price of $36.15.

APi Group (NYSE:APG) last issued its earnings results on Thursday, May 2nd. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. APi Group had a net margin of 2.49% and a return on equity of 37.83%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts anticipate that APi Group will post 1.88 EPS for the current fiscal year.

Insider Buying and Selling

In other APi Group news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other APi Group news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the completion of the sale, the director now owns 5,828,779 shares in the company, valued at approximately $216,888,866.59. The disclosure for this sale can be found here. 16.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On APi Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in APi Group by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 21,822,007 shares of the company’s stock worth $856,950,000 after purchasing an additional 1,031,564 shares during the period. Price T Rowe Associates Inc. MD lifted its position in APi Group by 39.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,443,315 shares of the company’s stock worth $253,030,000 after buying an additional 1,826,227 shares in the last quarter. Findlay Park Partners LLP lifted its position in APi Group by 39.1% in the 1st quarter. Findlay Park Partners LLP now owns 5,193,748 shares of the company’s stock worth $203,958,000 after buying an additional 1,459,000 shares in the last quarter. Janus Henderson Group PLC lifted its position in APi Group by 6,312.4% in the 1st quarter. Janus Henderson Group PLC now owns 4,884,712 shares of the company’s stock worth $191,822,000 after buying an additional 4,808,536 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in APi Group by 271.2% in the 1st quarter. Capital Research Global Investors now owns 4,321,383 shares of the company’s stock worth $169,701,000 after buying an additional 3,157,283 shares in 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.