Citigroup Raises APi Group (NYSE:APG) Price Target to $47.00

APi Group (NYSE:APG) had its price target hoisted by equities research analysts at Citigroup from $43.00 to $47.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 18.93% from the company’s previous close.

APG has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on APi Group from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 6th. TheStreet downgraded APi Group from a “b” rating to a “c+” rating in a research note on Wednesday, February 28th. Royal Bank of Canada raised their price target on APi Group from $36.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Monday. Jefferies Financial Group started coverage on APi Group in a research report on Friday, March 15th. They set a “buy” rating and a $48.00 price objective for the company. Finally, Barclays increased their price objective on APi Group from $37.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, APi Group has an average rating of “Moderate Buy” and a consensus price target of $43.00.

APi Group Price Performance

Shares of NYSE APG opened at $39.52 on Monday. The stock’s 50-day moving average is $36.87 and its two-hundred day moving average is $32.10. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.43 and a quick ratio of 1.35. APi Group has a 1-year low of $20.64 and a 1-year high of $39.98. The company has a market cap of $10.33 billion, a price-to-earnings ratio of -52.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.64.

APi Group (NYSE:APG) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. APi Group had a return on equity of 20.24% and a net margin of 2.21%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that APi Group will post 1.86 EPS for the current fiscal year.

Insider Activity at APi Group

In related news, CFO Kevin Krumm sold 5,585 shares of APi Group stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $35.72, for a total value of $199,496.20. Following the transaction, the chief financial officer now owns 34,180 shares in the company, valued at $1,220,909.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other APi Group news, Director James E. Lillie sold 125,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $38.38, for a total transaction of $4,797,500.00. Following the transaction, the director now owns 5,455,411 shares in the company, valued at $209,378,674.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kevin Krumm sold 5,585 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $35.72, for a total value of $199,496.20. Following the transaction, the chief financial officer now owns 34,180 shares in the company, valued at approximately $1,220,909.60. The disclosure for this sale can be found here. 16.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Viking Global Investors LP lifted its stake in shares of APi Group by 0.3% in the fourth quarter. Viking Global Investors LP now owns 34,302,815 shares of the company’s stock worth $1,186,877,000 after acquiring an additional 103,283 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of APi Group by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 20,790,443 shares of the company’s stock worth $719,349,000 after acquiring an additional 1,930,059 shares in the last quarter. BlackRock Inc. lifted its stake in shares of APi Group by 4.1% in the first quarter. BlackRock Inc. now owns 15,083,919 shares of the company’s stock worth $339,087,000 after acquiring an additional 593,023 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new position in shares of APi Group in the fourth quarter worth about $159,751,000. Finally, State Street Corp lifted its stake in shares of APi Group by 4.9% in the first quarter. State Street Corp now owns 4,343,571 shares of the company’s stock worth $97,643,000 after acquiring an additional 201,805 shares in the last quarter. Institutional investors and hedge funds own 86.62% of the company’s stock.

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.