Fintel reports that on August 4, 2023, Baird maintained coverage of APi Group (NYSE:APG) with a Outperform recommendation.
Analyst Price Forecast Suggests 6.00% Upside
As of August 2, 2023, the average one-year price target for APi Group is 29.81. The forecasts range from a low of 25.25 to a high of $33.60. The average price target represents an increase of 6.00% from its latest reported closing price of 28.12.
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The projected annual revenue for APi Group is 6,768MM, a decrease of 0.81%. The projected annual non-GAAP EPS is 1.49.
What is the Fund Sentiment?
There are 472 funds or institutions reporting positions in APi Group. This is an increase of 44 owner(s) or 10.28% in the last quarter. Average portfolio weight of all funds dedicated to APG is 0.58%, an increase of 0.11%. Total shares owned by institutions decreased in the last three months by 0.70% to 195,808K shares. 
The put/call ratio of APG is 0.09, indicating a bullish outlook.
What are Other Shareholders Doing?
Viking Global Investors holds 34,090K shares representing 14.49% ownership of the company. In it's prior filing, the firm reported owning 33,820K shares, representing an increase of 0.79%. The firm increased its portfolio allocation in APG by 12.94% over the last quarter.
Allspring Global Investments Holdings holds 9,581K shares representing 4.07% ownership of the company. In it's prior filing, the firm reported owning 10,245K shares, representing a decrease of 6.93%. The firm increased its portfolio allocation in APG by 9.67% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,801K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 5,749K shares, representing an increase of 0.90%. The firm increased its portfolio allocation in APG by 11.36% over the last quarter.
Permian Investment Partners holds 5,498K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 6,024K shares, representing a decrease of 9.57%. The firm decreased its portfolio allocation in APG by 17.84% over the last quarter.
Alua Capital Management holds 5,122K shares representing 2.18% ownership of the company. No change in the last quarter.
APi Group Background Information
(This description is provided by the company.)
APi is a market-leading business services provider of safety, specialty and industrial services in over 200 locations, primarily in North America. APi provides statutorily mandated services to a strong base of long-standing customers across industries.The Company has a winning leadership culture driven by entrepreneurial business leaders to deliver innovative solutions for its customers.
Additional reading:
- Press Release issued by APi Group Corporation on August 3, 2023
- Amendment No. 3 to Credit Agreement, dated as of May 19, 2023, by and among APi Group DE, Inc., as borrower, APi Group Corporation, the guarantors from time to time party thereto, the lenders from time to time party thereto, and Citibank, N.A., as administrative agent and as collateral agent.
- Mine Safety Disclosures.
- -APi Group Provides Preliminary Second Quarter 2023 Financial Results - -Announces Update on M&A Activities- -Announces Date of Second Quarter 2023 Earnings Release-
- APi Group Reports Record First Quarter 2023 Financial Results -Reported net revenue growth of 9.7% and organic net revenue growth of 12.1% - -Reported net income of $26 million and adjusted EBITDA of $147 million, representing year-over-year adjusted
This story originally appeared on Fintel.
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