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

APi Group (NYSE:APG) had its price target cut by equities research analysts at Citigroup from $45.00 to $43.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 20.92% from the stock’s previous close.

Several other equities analysts have also recently commented on APG. Robert W. Baird boosted their target price on shares of APi Group from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and set a $45.00 price objective on shares of APi Group in a research report on Friday, November 1st. William Blair restated an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Finally, Barclays lifted 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.14.

APi Group Price Performance

Shares of NYSE APG traded down $0.11 during midday trading on Monday, reaching $35.56. The company’s stock had a trading volume of 300,348 shares, compared to its average volume of 1,236,029. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51. The company has a market cap of $9.77 billion, a P/E ratio of -18.05 and a beta of 1.55. The business’s 50 day moving average price is $36.99 and its two-hundred day moving average price is $35.56. APi Group has a fifty-two week low of $31.16 and a fifty-two week high of $40.89.

APi Group (NYSE:APG) last released its 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 return on equity of 33.89% and a net margin of 3.01%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the company posted $0.48 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. On average, analysts forecast that APi Group will post 1.83 EPS for the current fiscal year.

Insider Activity

In other news, Director James E. Lillie sold 11,568 shares of APi Group 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 transaction, the director now owns 1,134,635 shares in the company, valued at approximately $41,958,802.30. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ian G. H. Ashken sold 53,868 shares of the stock in a transaction on Wednesday, November 13th. The shares were 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 of the company’s stock, valued at $202,002,581.73. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On APi Group

A number of hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in APi Group by 2.1% during the 2nd quarter. AQR Capital Management LLC now owns 20,059 shares of the company’s stock worth $755,000 after purchasing an additional 406 shares during the last quarter. Equitable Trust Co. boosted its stake in shares of APi Group by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 20,325 shares of the company’s stock valued at $671,000 after purchasing an additional 446 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of 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 during the period. KBC Group NV raised its stake in APi Group by 14.8% during the third quarter. KBC Group NV now owns 5,601 shares of the company’s stock worth $185,000 after buying an additional 721 shares during the last quarter. Finally, Cynosure Group LLC lifted its holdings in 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 buying an additional 746 shares during the period. 86.62% of the stock is currently owned by institutional investors.

APi Group Company Profile

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.