Truist Financial Begins Coverage on APi Group (NYSE:APG)

Stock analysts at Truist Financial started coverage on shares of APi Group (NYSE:APGGet Free Report) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $45.00 price target on the stock. Truist Financial’s price target would suggest a potential upside of 18.06% from the stock’s current price.

A number of other research firms have also issued reports on APG. William Blair reissued an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Royal Bank of Canada upgraded shares of APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Tuesday, January 14th. Barclays boosted their target price 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. Robert W. Baird boosted their price target on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. Finally, Citigroup dropped their price objective on shares of APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.38.

Read Our Latest Analysis on APi Group

APi Group Stock Performance

APi Group stock opened at $38.12 on Wednesday. The stock has a market cap of $10.47 billion, a P/E ratio of -19.35 and a beta of 1.55. The stock has a 50 day moving average of $37.15 and a 200-day moving average of $35.59. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. APi Group has a 52 week low of $31.44 and a 52 week high of $40.89.

APi Group (NYSE:APGGet Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that APi Group will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other APi Group news, Director James E. Lillie sold 11,568 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.98, for a total value of $427,784.64. Following the completion of the sale, the director now directly owns 1,134,635 shares of the company’s stock, valued at $41,958,802.30. This represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ian G. H. Ashken sold 53,868 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the completion of the sale, the director now directly owns 5,478,779 shares of the company’s stock, valued at approximately $202,002,581.73. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On APi Group

A number of hedge funds have recently made changes to their positions in the business. Advantage Alpha Capital Partners LP lifted its holdings in APi Group by 79.6% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 269,087 shares of the company’s stock valued at $8,885,000 after purchasing an additional 119,229 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of APi Group during the 3rd quarter worth approximately $881,000. Dynamic Technology Lab Private Ltd acquired a new position in APi Group during the third quarter valued at approximately $2,586,000. Oppenheimer Asset Management Inc. grew its holdings in APi Group by 60.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 99,647 shares of the company’s stock valued at $3,290,000 after purchasing an additional 37,531 shares during the period. Finally, ING Groep NV acquired a new position in APi Group during the third quarter valued at approximately $3,213,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

About APi Group

(Get Free Report)

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.

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