Barclays Cuts APi Group (NYSE:APG) Price Target to $40.00

APi Group (NYSE:APG - Get Free Report) had its price target lowered by equities researchers at Barclays to $40.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 15.98% from the company's previous close.

A number of other analysts have also recently weighed in on APG. Citigroup decreased their price target on shares of APi Group from $30.67 to $28.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Truist Financial increased their price target on shares of APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $34.67 price target on shares of APi Group in a research note on Friday, June 27th. Robert W. Baird raised 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. Finally, Wall Street Zen cut shares of APi Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.19.

APi Group Price Performance

APi Group stock opened at $34.49 on Wednesday. The company's 50 day simple moving average is $31.68 and its 200-day simple moving average is $27.01. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of 112.58 and a beta of 1.58. APi Group has a 1 year low of $20.50 and a 1 year high of $34.99. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.38 and a current ratio of 1.47.

APi Group (NYSE:APG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. APi Group had a net margin of 3.36% and a return on equity of 20.99%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm posted $0.23 EPS. The company's quarterly revenue was up 7.4% compared to the same quarter last year. As a group, equities research analysts expect that APi Group will post 1.83 earnings per share for the current year.

Insider Activity at APi Group

In related news, Director Ian G. H. Ashken sold 225,000 shares of APi Group stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $28.48, for a total value of $6,408,000.00. Following the completion of the transaction, the director directly owned 8,418,153 shares of the company's stock, valued at $239,748,997.44. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 17.00% of the company's stock.

Institutional Trading of APi Group

Institutional investors and hedge funds have recently modified their holdings of the stock. SVB Wealth LLC bought a new stake in shares of APi Group during the first quarter worth $38,000. GAMMA Investing LLC grew its stake in APi Group by 105.5% in the 1st quarter. GAMMA Investing LLC now owns 1,529 shares of the company's stock valued at $55,000 after buying an additional 785 shares during the last quarter. Versant Capital Management Inc lifted its position in APi Group by 339.0% during the first quarter. Versant Capital Management Inc now owns 1,633 shares of the company's stock worth $58,000 after acquiring an additional 1,261 shares during the last quarter. First Horizon Advisors Inc. lifted its position in APi Group by 40.5% during the first quarter. First Horizon Advisors Inc. now owns 1,672 shares of the company's stock worth $60,000 after acquiring an additional 482 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new position in APi Group during the 2nd quarter worth $98,000. 86.62% of the stock is owned by 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.