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

Research analysts at Truist Financial initiated coverage on shares of APi Group (NYSE:APG) 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 target price suggests a potential upside of 18.06% from the company’s current price.

A number of other research firms also recently issued reports on APG. Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Tuesday, January 14th. Barclays increased their price target on APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Citigroup decreased their price target on APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, January 13th. William Blair restated an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Finally, Robert W. Baird raised their target price on APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. 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 company has an average rating of “Moderate Buy” and an average target price of $43.38.

APi Group Stock Down 0.3 %

APG stock opened at $38.12 on Wednesday. APi Group has a twelve month low of $31.44 and a twelve month high of $40.89. 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 stock has a market cap of $10.47 billion, a P/E ratio of -19.35 and a beta of 1.55. The business’s 50-day moving average price is $37.15 and its 200-day moving average price is $35.59.

APi Group (NYSE:APG) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. APi Group had a return on equity of 33.89% and a net margin of 3.01%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that APi Group will post 1.83 EPS for the current year.

Insider Activity at APi Group

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

Institutional Trading of APi Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in APG. First Horizon Advisors Inc. acquired a new position in APi Group during the third quarter worth $26,000. Blue Trust Inc. raised its stake in APi Group by 92.3% in 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 acquired a new position in shares of APi Group during the 3rd quarter valued at about $33,000. ORG Wealth Partners LLC acquired a new position in shares of APi Group during the 4th quarter valued at about $34,000. Finally, R Squared Ltd acquired a new stake in APi Group during the 4th quarter worth approximately $85,000. 86.62% of the stock is owned by hedge funds and other institutional investors.

APi Group Company Profile

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.