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

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

Several other brokerages have also recently issued reports on APG. Robert W. Baird increased their price objective on APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 26th. Citigroup lowered their target price on APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays raised 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. William Blair reaffirmed an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Finally, Royal Bank of Canada raised 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 research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.38.

APi Group Stock Down 0.3 %

NYSE:APG opened at $38.24 on Wednesday. The company has a market cap of $10.51 billion, a price-to-earnings ratio of -19.41 and a beta of 1.55. APi Group has a twelve month low of $31.44 and a twelve month high of $40.89. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $37.11 and a 200-day simple moving average of $35.57.

APi Group (NYSE:APG) 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. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.87 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. Analysts anticipate that APi Group will post 1.83 EPS for the current year.

Insider Activity

In other news, Director Ian G. H. Ashken sold 53,868 shares of the company’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 transaction, the director now directly owns 5,478,779 shares of the company’s stock, valued at approximately $202,002,581.73. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James E. Lillie sold 11,568 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APG. Mount Yale Investment Advisors LLC purchased a new stake in shares of APi Group during the fourth quarter worth about $249,000. KBC Group NV boosted its stake in APi Group by 56.2% in the 4th quarter. KBC Group NV now owns 8,750 shares of the company’s stock worth $315,000 after purchasing an additional 3,149 shares in the last quarter. Blue Trust Inc. grew its position in APi Group by 92.3% during the 4th quarter. Blue Trust Inc. now owns 804 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the last quarter. SG Americas Securities LLC increased its stake in APi Group by 325.6% during the 4th quarter. SG Americas Securities LLC now owns 21,231 shares of the company’s stock valued at $764,000 after purchasing an additional 16,242 shares in the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of APi Group by 48.0% in the fourth quarter. Park Avenue Securities LLC now owns 12,777 shares of the company’s stock worth $460,000 after buying an additional 4,144 shares during the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

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.