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

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

Other equities analysts also recently issued reports about the company. Citigroup reissued a “buy” rating and issued a $49.00 target price (up from $45.00) on shares of APi Group in a research report on Monday, January 12th. CJS Securities raised shares of APi Group to a “strong-buy” rating in a report on Thursday, December 11th. Royal Bank Of Canada restated an “outperform” rating on shares of APi Group in a research report on Tuesday, December 23rd. UBS Group set a $49.00 price objective on APi Group and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of APi Group in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, APi Group currently has a consensus rating of “Moderate Buy” and an average price target of $43.24.

APi Group Price Performance

Shares of APG opened at $42.10 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.41 and a current ratio of 1.48. The stock has a market capitalization of $17.51 billion, a PE ratio of 114.83 and a beta of 1.70. APi Group has a fifty-two week low of $20.50 and a fifty-two week high of $43.26. The company has a 50 day moving average price of $39.43 and a 200-day moving average price of $36.58.

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

Insider Buying and Selling

In other APi Group news, Director Martin E. Franklin sold 340,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $36.09, for a total value of $12,270,600.00. Following the sale, the director directly owned 18,968,790 shares of the company’s stock, valued at approximately $684,583,631.10. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Anthony E. Malkin bought 3,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were purchased at an average price of $39.58 per share, for a total transaction of $118,740.00. Following the transaction, the director directly owned 7,000 shares of the company’s stock, valued at approximately $277,060. This represents a 75.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, 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

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in APi Group by 49.6% during the 3rd quarter. Vanguard Group Inc. now owns 35,138,767 shares of the company’s stock valued at $1,207,719,000 after acquiring an additional 11,644,990 shares in the last quarter. Durable Capital Partners LP boosted its position in shares of APi Group by 40.2% during the 3rd quarter. Durable Capital Partners LP now owns 14,898,178 shares of the company’s stock valued at $512,050,000 after purchasing an additional 4,274,610 shares in the last quarter. State Street Corp increased its holdings in shares of APi Group by 50.6% in the third quarter. State Street Corp now owns 10,771,776 shares of the company’s stock valued at $370,226,000 after buying an additional 3,620,931 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of APi Group by 224.6% during the third quarter. Invesco Ltd. now owns 5,109,902 shares of the company’s stock valued at $175,627,000 after purchasing an additional 3,535,682 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of APi Group during the second quarter valued at approximately $154,149,000. 86.62% of the stock is currently owned by institutional investors and hedge funds.

About APi Group

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.