Citigroup Has Lowered Expectations for APi Group (NYSE:APG) Stock Price

APi Group (NYSE:APG) had its target price lowered by analysts at Citigroup from $46.00 to $42.00 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 objective would indicate a potential upside of 18.74% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada raised APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Tuesday, January 14th. UBS Group cut their target price on APi Group from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Barclays decreased their price target on APi Group from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Robert W. Baird lifted their price target on shares of APi Group from $40.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, February 27th. Finally, Truist Financial reissued a “buy” rating and issued a $48.00 target price (up previously from $45.00) on shares of APi Group in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.14.

APi Group Stock Performance

Shares of APG traded up $0.67 during mid-day trading on Monday, hitting $35.37. 1,468,094 shares of the company’s stock were exchanged, compared to its average volume of 1,703,074. The firm has a market capitalization of $9.77 billion, a P/E ratio of -17.95 and a beta of 1.55. APi Group has a fifty-two week low of $30.76 and a fifty-two week high of $41.31. The business’s 50 day moving average is $36.95 and its two-hundred day moving average is $36.37. The company has a current ratio of 1.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

Insider Activity at APi Group

In other news, Director James E. Lillie sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $37.97, for a total value of $1,898,500.00. Following the completion of the transaction, the director now owns 1,046,203 shares of the company’s stock, valued at $39,724,327.91. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 18.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On APi Group

Several institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors grew its stake in shares of APi Group by 118.2% during the 4th quarter. Capital Research Global Investors now owns 10,947,284 shares of the company’s stock valued at $393,774,000 after buying an additional 5,931,314 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of APi Group in the 4th quarter worth about $125,407,000. Durable Capital Partners LP lifted its position in APi Group by 199.8% during the fourth quarter. Durable Capital Partners LP now owns 5,007,539 shares of the company’s stock valued at $180,121,000 after buying an additional 3,337,468 shares in the last quarter. Norges Bank purchased a new position in shares of APi Group in the 4th quarter valued at $98,028,000. Finally, Price T Rowe Associates Inc. MD raised its position in APi Group by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,627,444 shares of the company’s stock valued at $562,120,000 after purchasing an additional 2,602,758 shares during the period. 86.62% of the stock is currently owned by institutional investors and hedge funds.

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.