APi Group (NYSE:APG) Price Target Raised to $42.00

Key Points

• Barclays raised its price target for APi Group's stock from $40.00 to $42.00, indicating a potential upside of 18.18% from its previous close, while maintaining an "overweight" rating.
• APi Group reported a quarterly earnings surge with $0.39 earnings per share, exceeding estimates and achieving a 15.0% year-over-year revenue increase to $1.99 billion.
• The stock received positive ratings from multiple analysts, with a consensus rating of "Buy" and an average price target of $36.10 based on various recent research findings.

APi Group (NYSE:APG - Get Free Report) had its price target hoisted by analysts at Barclays from $40.00 to $42.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price objective points to a potential upside of 18.18% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of APi Group from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Truist Financial lifted their price target on shares of APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $34.67 price objective on shares of APi Group in a research report on Friday, June 27th. UBS Group raised their target price on shares of APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird lifted their target price on shares of APi Group from $31.33 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $36.10.

APi Group Price Performance

Shares of APi Group stock traded up $0.47 during trading on Monday, hitting $35.54. 337,359 shares of the company were exchanged, compared to its average volume of 3,101,761. APi Group has a fifty-two week low of $20.50 and a fifty-two week high of $36.55. The company has a quick ratio of 1.37, a current ratio of 1.45 and a debt-to-equity ratio of 0.87. The firm has a 50 day moving average price of $33.41 and a 200 day moving average price of $28.29. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 111.21 and a beta of 1.56.

APi Group (NYSE:APG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. APi Group had a return on equity of 21.33% and a net margin of 3.35%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the business posted $0.49 earnings per share. APi Group's revenue was up 15.0% compared to the same quarter last year. On average, equities analysts expect that APi Group will post 1.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On APi Group

A number of institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its stake in APi Group by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,249,205 shares of the company's stock worth $581,073,000 after purchasing an additional 621,761 shares during the period. Capital Research Global Investors raised its position in shares of APi Group by 118.2% in the 4th quarter. Capital Research Global Investors now owns 10,947,284 shares of the company's stock worth $393,774,000 after buying an additional 5,931,314 shares during the period. Janus Henderson Group PLC raised its position in shares of APi Group by 19.2% in the 4th quarter. Janus Henderson Group PLC now owns 10,003,065 shares of the company's stock worth $359,811,000 after buying an additional 1,611,744 shares during the period. Durable Capital Partners LP boosted its holdings in APi Group by 78.0% in the first quarter. Durable Capital Partners LP now owns 8,911,171 shares of the company's stock valued at $318,663,000 after acquiring an additional 3,903,632 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in APi Group by 75.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,767,246 shares of the company's stock valued at $241,997,000 after acquiring an additional 2,906,783 shares during the period. 86.62% of the stock is currently owned by hedge funds and other 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.

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