APi Group (NYSE:APG) Reaches New 52-Week High - What's Next?

APi Group Co. (NYSE:APG - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $41.27 and last traded at $40.62, with a volume of 66101 shares trading hands. The stock had previously closed at $40.37.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on APG. William Blair reissued an "outperform" rating on shares of APi Group in a report on Thursday, December 5th. Barclays increased their price target on shares of APi Group from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Citigroup reduced their price objective on shares of 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 assumed coverage on shares of APi Group in a report on Wednesday, January 22nd. They set a "buy" rating and a $45.00 target price on the stock. Finally, Royal Bank of Canada raised shares of 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.88.

APi Group Trading 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 market capitalization of $10.95 billion, a P/E ratio of -20.23 and a beta of 1.55. The firm's 50-day simple moving average is $37.42 and its 200-day simple moving average is $35.80.

Institutional Trading of APi Group

A number of hedge funds have recently made changes to their positions in APG. First Horizon Advisors Inc. purchased a new stake in APi Group during the third quarter valued at about $26,000. Blue Trust Inc. increased its position in shares of APi Group by 92.3% during 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 during the last quarter. Avior Wealth Management LLC purchased a new position in shares of APi Group during the 3rd quarter valued at about $33,000. ORG Wealth Partners LLC bought a new stake in APi Group in the 4th quarter worth approximately $34,000. Finally, Strategic Financial Concepts LLC boosted its stake in APi Group by 2,058.1% in the fourth quarter. Strategic Financial Concepts LLC now owns 227,618 shares of the company's stock worth $82,000 after buying an additional 217,071 shares in the last quarter. 86.62% of the stock is owned by institutional investors.

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.