Why APi Group Shares Are Trading Lower

APi Group Corp APG shares are trading lower by 5% to $37.15 during Wednesday’s session after the company priced an 11 million share offering at $37.50 per share.

The gross proceeds are estimated to be around $412.5 million before deductions. APi has granted the underwriters a 30-day option to purchase an additional 1.65 million shares. The offering, expected to close on April 19, will be solely comprised of shares offered by APi.

The company plans to utilize the net proceeds for general corporate purposes, including capital expenditures, working capital and acquisitions.

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Is APG A Good Stock To Buy?

Wall Street analysts view APi Group on the whole as a Buy, given the history of coverage over the past three months. Ashish Sabadra from RBC Capital in APi Gr is the most optimistic, expecting a 25.0% rise in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, APi Group rose 15.61%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 3.29% over the past year.

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APG has a 52-week high of $39.98 and a 52-week low of $21.15.