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

APi Group (NYSE:APG) had its price objective decreased by Barclays from $44.00 to $43.00 in a research report released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

APG has been the topic of several other research reports. Citigroup reduced their target price on shares of APi Group from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Truist Financial reissued a “buy” rating and issued a $48.00 price objective (up from $45.00) on shares of APi Group in a research report on Thursday, February 27th. Robert W. Baird raised their price objective on shares of APi Group from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. William Blair reaffirmed an “outperform” rating on shares of APi Group in a research note on Thursday, December 5th. Finally, Royal Bank of Canada upgraded APi Group from a “sector perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.29.

APi Group Stock Performance

NYSE APG opened at $35.99 on Wednesday. The company has a market cap of $9.99 billion, a P/E ratio of -18.27 and a beta of 1.54. The business’s 50 day moving average price is $37.81 and its 200-day moving average price is $36.35. APi Group has a fifty-two week low of $31.44 and a fifty-two week high of $41.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 1.51.

Insider Activity

In related news, Director James E. Lillie sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $37.97, for a total value of $1,898,500.00. Following the transaction, the director now owns 1,046,203 shares of the company’s stock, valued at $39,724,327.91. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On APi Group

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