Citigroup Cuts APi Group (NYSE:APG) Price Target to $43.00

APi Group (NYSE:APG) had its price target lowered by Citigroup from $45.00 to $43.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. William Blair reissued an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Robert W. Baird lifted their target price on APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Barclays upped their price target on APi Group from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $45.00 price objective on shares of APi Group in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.14.

APi Group Trading Up 0.7 %

NYSE:APG opened at $37.37 on Monday. The business’s 50-day simple moving average is $37.04 and its 200-day simple moving average is $35.53. APi Group has a fifty-two week low of $31.16 and a fifty-two week high of $40.89. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.51 and a quick ratio of 1.42. The stock has a market capitalization of $10.27 billion, a PE ratio of -18.97 and a beta of 1.55.

APi Group (NYSE:APG) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. APi Group had a net margin of 3.01% and a return on equity of 33.89%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm posted $0.48 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts expect that APi Group will post 1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ian G. H. Ashken sold 53,868 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $36.87, for a total transaction of $1,986,113.16. Following the transaction, the director now directly owns 5,478,779 shares in the company, valued at approximately $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Lillie sold 11,568 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $36.98, for a total transaction of $427,784.64. Following the completion of the sale, the director now owns 1,134,635 shares of the company’s stock, valued at approximately $41,958,802.30. This represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On APi Group

A number of institutional investors have recently bought and sold shares of APG. Millennium Management LLC acquired a new stake in shares of APi Group in the second quarter valued at approximately $67,412,000. Janus Henderson Group PLC boosted its position in APi Group by 19.2% during the third quarter. Janus Henderson Group PLC now owns 8,391,321 shares of the company’s stock worth $277,079,000 after purchasing an additional 1,351,013 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of APi Group by 382.6% in the second quarter. Point72 Asset Management L.P. now owns 1,064,395 shares of the company’s stock valued at $40,053,000 after purchasing an additional 843,826 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of APi Group by 412.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,044,034 shares of the company’s stock valued at $34,474,000 after purchasing an additional 840,452 shares during the period. Finally, Driehaus Capital Management LLC lifted its stake in shares of APi Group by 48.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,517,933 shares of the company’s stock worth $57,120,000 after buying an additional 498,492 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.