3 Best Stocks to Buy According to Adam Wyden’s ADW Capital

2. APi Group Corporation (NYSE:APG)

Number of Hedge Fund Holders: 29

APi Group Corporation (NYSE:APG) is an American construction and engineering company that provides safety, specialty, and industrial services across four continents. As of Q2 2022, 29 hedge funds had a stake in the company, with Viking Global taking the most prominent position, consisting of shares worth $503.51 million. In the second quarter, ADW Capital owned 3.1 million APi Group Corporation (NYSE:APG) shares worth $46.407 million, representing 21.89% of the firm’s portfolio.

On July 11, BofA analyst Andrew Obin upgraded APi Group Corporation (NYSE:APG) to Buy from Neutral and maintained his $23 price target. The analyst mentioned that almost half of the company’s revenues are generated from fire inspection and other recurring revenues, and the company’s backlog bears visibility on the remaining project-based revenue.

In the second quarter of 2022, APi Group Corporation (NYSE:APG) reported an adjusted EPS of $0.37, compared to $0.35 estimates. Moreover, the revenues were up by 63.6% on a YoY basis to $1.6 billion, versus q $1.65 billion consensus.