APi Group (NYSE:APG) Given New $45.00 Price Target at Citigroup

APi Group (NYSE:APG) had its price objective lifted by Citigroup from $42.00 to $45.00 in a report published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on APG. Barclays boosted their price target on APi Group from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price target on shares of APi Group in a report on Friday, November 1st. William Blair reissued an “outperform” rating on shares of APi Group in a report on Thursday, December 5th. Finally, Robert W. Baird upped their price objective on APi Group from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, APi Group presently has an average rating of “Moderate Buy” and a consensus target price of $43.43.

APi Group Stock Performance

Shares of APG stock opened at $39.12 on Monday. The stock has a fifty day moving average of $35.11 and a 200 day moving average of $35.61. APi Group has a 52 week low of $30.26 and a 52 week high of $40.89. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of -19.90 and a beta of 1.55. The company has a quick ratio of 1.42, a current ratio of 1.51 and a debt-to-equity ratio of 0.96.

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

Insider Activity

In other APi Group news, Director James E. Lillie sold 11,568 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $36.98, for a total value of $427,784.64. Following the transaction, the director now owns 1,134,635 shares of the company’s stock, valued at $41,958,802.30. This represents a 1.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ian G. H. Ashken sold 53,868 shares of the stock in a transaction 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 transaction, the director now directly owns 5,478,779 shares in the company, valued at $202,002,581.73. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On APi Group

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its stake in shares of APi Group by 19.2% during the 3rd 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 last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of APi Group by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,901,296 shares of the company’s stock worth $227,881,000 after purchasing an additional 324,544 shares during the last quarter. Geode Capital Management LLC raised its stake in APi Group by 2.9% in the third quarter. Geode Capital Management LLC now owns 3,730,499 shares of the company’s stock valued at $123,217,000 after buying an additional 106,119 shares during the last quarter. State Street Corp raised its stake in APi Group by 3.7% in the third quarter. State Street Corp now owns 3,723,241 shares of the company’s stock valued at $122,941,000 after buying an additional 132,971 shares during the last quarter. Finally, Cooke & Bieler LP raised its stake in APi Group by 218.9% in the second quarter. Cooke & Bieler LP now owns 2,884,540 shares of the company’s stock valued at $108,545,000 after buying an additional 1,979,931 shares during 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.