Truist Financial Reiterates “Buy” Rating for APi Group (NYSE:APG)

APi Group (NYSE:APG)‘s stock had its “buy” rating restated by research analysts at Truist Financial in a report issued on Thursday,Benzinga reports. They currently have a $48.00 target price on the stock, up from their prior target price of $45.00. Truist Financial’s price objective indicates a potential upside of 22.46% from the company’s current price.

Other analysts have also issued reports about the company. Royal Bank of Canada raised 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. UBS Group dropped their price objective on APi Group from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Citigroup decreased their price target on shares of APi Group from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, January 13th. William Blair reaffirmed an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. Finally, Barclays increased their price objective on shares of APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

APi Group Price Performance

APG opened at $39.20 on Thursday. APi Group has a twelve month low of $31.44 and a twelve month high of $41.31. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of -19.90 and a beta of 1.55. 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 company has a fifty day simple moving average of $37.63 and a 200 day simple moving average of $36.02.

Hedge Funds Weigh In On APi Group

A number of hedge funds have recently added to or reduced their stakes in APG. Raymond James & Associates lifted its position in shares of APi Group by 20.2% in the 3rd quarter. Raymond James & Associates now owns 173,774 shares of the company’s stock worth $5,738,000 after buying an additional 29,175 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in APi Group by 1.5% during the third quarter. Asset Management One Co. Ltd. now owns 72,493 shares of the company’s stock worth $2,394,000 after acquiring an additional 1,095 shares during the period. Capital Investment Services of America Inc. bought a new position in APi Group in the third quarter worth about $9,941,000. River Road Asset Management LLC boosted its stake in APi Group by 42.9% in the third quarter. River Road Asset Management LLC now owns 243,951 shares of the company’s stock valued at $8,055,000 after acquiring an additional 73,272 shares during the period. Finally, Equitable Trust Co. grew its holdings in shares of APi Group by 2.2% during the third quarter. Equitable Trust Co. now owns 20,325 shares of the company’s stock valued at $671,000 after purchasing an additional 446 shares during 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.