Citigroup Issues Pessimistic Forecast for APi Group (NYSE:APG) Stock Price

APi Group (NYSE:APG) had its target price decreased by equities research analysts at Citigroup from $45.00 to $43.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 16.12% from the company’s current price.

APG has been the topic of several other research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of APi Group in a research report on Friday, November 1st. Robert W. Baird boosted their target price on APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday, November 26th. William Blair reaffirmed an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. Finally, Barclays boosted 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 research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, APi Group currently has an average rating of “Moderate Buy” and an average price target of $43.14.

APi Group Price Performance

APG stock opened at $37.03 on Monday. 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 market capitalization of $10.17 billion, a P/E ratio of -18.80 and a beta of 1.55. The business has a 50 day simple moving average of $37.04 and a 200-day simple moving average of $35.53. APi Group has a twelve month low of $31.16 and a twelve month high of $40.89.

APi Group (NYSE:APG) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.51 earnings per share for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business earned $0.48 EPS. APi Group’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that APi Group will post 1.83 EPS for the current year.

Insider Buying and Selling

In other news, Director James E. Lillie sold 11,568 shares of APi Group stock in a transaction that occurred 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 directly owns 1,134,635 shares in the company, valued at approximately $41,958,802.30. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ian G. H. Ashken sold 53,868 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $36.87, for a total value of $1,986,113.16. Following the completion of the sale, the director now owns 5,478,779 shares in the company, valued at approximately $202,002,581.73. This represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. 18.20% of the stock is currently owned by corporate insiders.

Institutional Trading of APi Group

A number of institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of APi Group by 2.1% in the second quarter. AQR Capital Management LLC now owns 20,059 shares of the company’s stock valued at $755,000 after purchasing an additional 406 shares during the last quarter. Equitable Trust Co. grew its holdings in APi Group by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 20,325 shares of the company’s stock valued at $671,000 after buying an additional 446 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in APi Group by 0.8% during the third quarter. The Manufacturers Life Insurance Company now owns 57,718 shares of the company’s stock worth $1,906,000 after buying an additional 450 shares in the last quarter. KBC Group NV raised its holdings in shares of APi Group by 14.8% in the third quarter. KBC Group NV now owns 5,601 shares of the company’s stock worth $185,000 after acquiring an additional 721 shares during the last quarter. Finally, Cynosure Group LLC lifted its position in shares of APi Group by 7.6% in the third quarter. Cynosure Group LLC now owns 10,603 shares of the company’s stock valued at $350,000 after acquiring an additional 746 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

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.