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

APi Group (NYSE:APG - Get Free Report) had its price target cut by research analysts at Barclays to $40.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 15.32% from the stock's previous close.

A number of other equities analysts have also recently commented on APG. JPMorgan Chase & Co. initiated coverage on APi Group in a report on Tuesday, June 24th. They set a "neutral" rating and a $30.67 price target for the company. Citigroup reduced their price objective on APi Group from $30.67 to $28.00 and set a "buy" rating for the company in a report on Monday, April 14th. UBS Group boosted their price objective on APi Group from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Robert W. Baird boosted their price objective on APi Group from $31.33 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Finally, Wall Street Zen cut APi Group from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, APi Group presently has an average rating of "Moderate Buy" and an average target price of $34.19.

APi Group Stock Up 0.8%

Shares of NYSE:APG traded up $0.28 during midday trading on Wednesday, reaching $34.69. The company had a trading volume of 265,101 shares, compared to its average volume of 2,695,309. The company has a quick ratio of 1.38, a current ratio of 1.47 and a debt-to-equity ratio of 0.92. The business's 50 day moving average price is $31.96 and its 200 day moving average price is $27.19. The stock has a market cap of $14.40 billion, a PE ratio of 113.11 and a beta of 1.58. APi Group has a 1-year low of $20.50 and a 1-year high of $34.89.

APi Group (NYSE:APG - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.66 billion. APi Group had a return on equity of 20.99% and a net margin of 3.36%. APi Group's quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 earnings per share. Research analysts forecast that APi Group will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other APi Group news, Director Ian G. H. Ashken sold 225,000 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $28.48, for a total transaction of $6,408,000.00. Following the completion of the sale, the director directly owned 8,418,153 shares in the company, valued at $239,748,997.44. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.00% of the stock is owned by insiders.

Institutional Investors Weigh In On APi Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SVB Wealth LLC bought a new stake in APi Group during the first quarter worth $38,000. GAMMA Investing LLC increased its holdings in shares of APi Group by 105.5% during the first quarter. GAMMA Investing LLC now owns 1,529 shares of the company's stock worth $55,000 after buying an additional 785 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of 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 buying an additional 1,261 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of 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 buying an additional 482 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of APi Group during the second quarter worth $98,000. 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.