APi Group (NYSE:APG) Given New $50.00 Price Target at Truist Financial

APi Group (NYSE:APG) had its price objective increased by research analysts at Truist Financial from $41.00 to $50.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 18.76% from the company’s previous close.

Several other equities analysts have also issued reports on the company. CJS Securities upgraded APi Group to a “strong-buy” rating in a research report on Thursday, December 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. Citigroup reiterated a “buy” rating and set a $49.00 target price (up previously from $45.00) on shares of APi Group in a report on Monday, January 12th. UBS Group set a $49.00 target price on shares of APi Group and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, Barclays lifted their price objective on shares of APi Group from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.24.

APi Group Stock Performance

Shares of NYSE APG opened at $42.10 on Wednesday. The firm has a market capitalization of $17.51 billion, a price-to-earnings ratio of 114.83 and a beta of 1.70. The business has a fifty day simple moving average of $39.43 and a 200 day simple moving average of $36.58. APi Group has a one year low of $20.50 and a one year high of $43.26. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84.

APi Group (NYSE:APG) last posted its earnings results on Thursday, October 30th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. APi Group had a net margin of 3.44% and a return on equity of 21.86%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. APi Group’s quarterly revenue was up 14.2% compared to the same quarter last year. Sell-side analysts expect that APi Group will post 1.83 EPS for the current year.

Insider Transactions at APi Group

In related news, Director Martin E. Franklin sold 340,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total value of $12,270,600.00. Following the transaction, the director owned 18,968,790 shares in the company, valued at approximately $684,583,631.10. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony E. Malkin acquired 3,000 shares of APi Group stock in a transaction that occurred on Wednesday, December 10th. The stock was acquired at an average price of $39.58 per share, with a total value of $118,740.00. Following the completion of the purchase, the director directly owned 7,000 shares in the company, valued at $277,060. This represents a 75.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 7,000 shares of company stock valued at $275,720 and sold 900,000 shares valued at $32,342,000. Insiders own 17.00% of the company’s stock.

Institutional Trading of APi Group

Several hedge funds have recently added to or reduced their stakes in APG. Bares Capital Management Inc. bought a new stake in shares of APi Group during the 2nd quarter valued at about $30,000. Clearstead Advisors LLC grew its stake in shares of APi Group by 105.7% during the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock valued at $29,000 after purchasing an additional 427 shares during the period. Parallel Advisors LLC grew its holdings in APi Group by 55.3% during the third quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after purchasing an additional 297 shares during the period. Silicon Valley Capital Partners boosted its position in shares of APi Group by 50.0% in the third quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 286 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in APi Group in the 3rd quarter worth $31,000. 86.62% of the stock is owned by institutional investors.

APi Group Company Profile

APi Group Corp. is a global specialty contractor that provides fire protection, security, mechanical insulation and energy services to commercial, industrial and institutional clients. Headquartered in New Brighton, Minnesota, the company designs, installs, inspects, tests, maintains and repairs a wide range of safety and infrastructure systems. Through its network of operating subsidiaries, APi Group delivers end-to-end solutions for new construction, facility renovations and ongoing maintenance requirements.

Its service portfolio spans life safety and industrial services—such as fire suppression systems, fire alarms and emergency lighting—and specialized offerings including technical insulation, access solutions, passive fire protection and energy efficiency upgrades.