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

Truist Financial began coverage on shares of APi Group (NYSE:APG) in a report released on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $45.00 target price on the stock.

APG has been the subject of a number of other reports. Robert W. Baird upped their target price on APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, November 26th. Citigroup lowered their price target on APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Barclays increased their target price on APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada upgraded 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. Finally, William Blair reiterated an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.38.

APi Group Trading Up 0.0 %

Shares of NYSE APG opened at $38.15 on Wednesday. The firm has a market capitalization of $10.48 billion, a PE ratio of -19.36 and a beta of 1.55. 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 one year low of $31.44 and a one year high of $40.89. The business has a 50-day moving average price of $37.19 and a two-hundred day moving average price of $35.60.

APi Group (NYSE:APG) last issued 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 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 period last year, the business earned $0.48 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, analysts predict that APi Group will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling at APi Group

In related news, Director Ian G. H. Ashken sold 53,868 shares of APi Group stock in a transaction that occurred 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James E. Lillie sold 11,568 shares of APi Group 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On APi Group

A number of hedge funds and other institutional investors have recently bought and sold shares of APG. Janus Henderson Group PLC grew its position in shares of APi Group by 19.2% in the 3rd quarter. Janus Henderson Group PLC now owns 8,391,321 shares of the company’s stock valued at $277,079,000 after buying an additional 1,351,013 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in APi Group by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company’s stock worth $227,881,000 after buying an additional 324,544 shares during the period. Geode Capital Management LLC raised its stake in APi Group by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,730,499 shares of the company’s stock worth $123,217,000 after buying an additional 106,119 shares during the period. State Street Corp raised its stake in APi Group by 3.7% during the 3rd quarter. State Street Corp now owns 3,723,241 shares of the company’s stock worth $122,941,000 after buying an additional 132,971 shares during the period. Finally, Select Equity Group L.P. raised its stake in APi Group by 7.6% during the 2nd quarter. Select Equity Group L.P. now owns 2,464,597 shares of the company’s stock worth $92,743,000 after buying an additional 173,544 shares during the period. Institutional investors own 86.62% of the company’s stock.

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.