Truist Financial Raises APi Group (NYSE:APG) Price Target to $50.00

APi Group (NYSE:APG) had its price objective raised by research analysts at Truist Financial from $41.00 to $50.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 17.87% from the stock’s previous close.

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

APi Group Stock Performance

Shares of APG stock opened at $42.42 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.41 and a debt-to-equity ratio of 0.84. The stock has a 50 day simple moving average of $39.61 and a 200-day simple moving average of $36.66. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 115.69 and a beta of 1.70. APi Group has a 12-month low of $20.50 and a 12-month high of $43.26.

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

Insider Transactions at APi Group

In other news, Director Anthony E. Malkin bought 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average price of $39.58 per share, with a total value of $118,740.00. Following the purchase, the director owned 7,000 shares of the company’s stock, valued at $277,060. This trade represents a 75.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin E. Franklin sold 340,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $36.09, for a total transaction of $12,270,600.00. Following the sale, the director directly owned 18,968,790 shares in the company, valued at $684,583,631.10. This represents a 1.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have purchased 7,000 shares of company stock valued at $275,720 and have sold 900,000 shares valued at $32,342,000. Company insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of APG. Sound Income Strategies LLC purchased a new stake in shares of APi Group in the fourth quarter valued at $27,000. Clearstead Advisors LLC boosted its stake in APi Group by 105.7% in the 3rd quarter. Clearstead Advisors LLC now owns 831 shares of the company’s stock worth $29,000 after buying an additional 427 shares during the last quarter. Silicon Valley Capital Partners grew its holdings in APi Group by 50.0% in the 3rd quarter. Silicon Valley Capital Partners now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 286 shares during the period. Parallel Advisors LLC increased its stake in shares of APi Group by 55.3% during the 3rd quarter. Parallel Advisors LLC now owns 834 shares of the company’s stock valued at $29,000 after acquiring an additional 297 shares during the last quarter. Finally, Bares Capital Management Inc. purchased a new position in shares of APi Group during the 2nd quarter worth about $30,000. 86.62% of the stock is currently owned by institutional investors and hedge funds.

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.