Truist Financial Issues Positive Forecast for APi Group (NYSE:APG) Stock Price

APi Group (NYSE:APG - Get Free Report) had its price target upped by investment analysts at Truist Financial from $48.00 to $54.00 in a note issued to investors on Thursday, Marketbeat reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target points to a potential upside of 15.24% from the company's previous close.

Several other equities research analysts have also commented on the stock. Citigroup dropped their price target on shares of APi Group from $46.00 to $42.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. raised their target price on APi Group from $39.00 to $46.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Barclays lifted their target price on APi Group from $43.00 to $48.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Robert W. Baird increased their price target on APi Group from $40.00 to $46.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $45.00 price target on shares of APi Group in a report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $49.57.

APi Group Stock Performance

APG traded up $1.25 during trading on Thursday, reaching $46.86. 761,363 shares of the company were exchanged, compared to its average volume of 1,696,240. APi Group has a 52 week low of $30.76 and a 52 week high of $48.08. 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 firm has a 50 day moving average of $38.82 and a 200 day moving average of $37.93. The stock has a market cap of $12.97 billion, a P/E ratio of -23.79 and a beta of 1.54.

APi Group shares are going to split on Tuesday, July 1st. The 3-2 split was announced on Wednesday, May 21st. The newly minted shares will be issued to shareholders after the market closes on Monday, June 30th.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.66 billion. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. On average, sell-side analysts forecast that APi Group will post 1.83 EPS for the current fiscal year.

Insider Buying and Selling at APi Group

In related news, Director Ian G. H. Ashken sold 150,000 shares of APi Group stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $42.72, for a total transaction of $6,408,000.00. Following the transaction, the director now directly owns 5,612,102 shares of the company's stock, valued at $239,748,997.44. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Lillie sold 50,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $37.97, for a total transaction of $1,898,500.00. Following the completion of the sale, the director now owns 1,046,203 shares in the company, valued at approximately $39,724,327.91. This trade represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On APi Group

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in APi Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 23,124,584 shares of the company's stock valued at $831,791,000 after purchasing an additional 127,038 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of APi Group by 4.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company's stock valued at $581,073,000 after buying an additional 621,761 shares in the last quarter. Capital Research Global Investors lifted its position in shares of APi Group by 118.2% during the 4th quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock valued at $393,774,000 after acquiring an additional 5,931,314 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of APi Group by 19.2% during the 4th quarter. Janus Henderson Group PLC now owns 10,003,065 shares of the company's stock valued at $359,811,000 after acquiring an additional 1,611,744 shares during the last quarter. Finally, Durable Capital Partners LP boosted its stake in shares of APi Group by 78.0% during the 1st quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company's stock worth $318,663,000 after acquiring an additional 3,903,632 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company's stock.

About APi Group

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.