APi Group (NYSE:APG) Price Target Cut to $34.00 by Analysts at JPMorgan Chase & Co.

APi Group (NYSE:APG) had its price objective lowered by JPMorgan Chase & Co. from $37.00 to $34.00 in a report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

APG has been the subject of a number of other reports. Robert W. Baird reduced their target price on shares of APi Group from $43.00 to $42.00 and set an outperform rating for the company in a report on Friday. Royal Bank of Canada raised their target price on shares of APi Group from $36.00 to $45.00 and gave the stock a sector perform rating in a report on Monday, April 8th. Finally, Citigroup raised their target price on shares of APi Group from $43.00 to $47.00 and gave the stock a buy rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, APi Group currently has an average rating of Moderate Buy and a consensus price target of $44.00.

APi Group Trading Down 5.3 %

APi Group stock opened at $34.32 on Friday. The firm has a 50 day simple moving average of $37.23 and a 200-day simple moving average of $36.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.35 and a quick ratio of 1.26. The stock has a market capitalization of $9.41 billion, a PE ratio of -15.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.57. APi Group has a 12-month low of $24.61 and a 12-month high of $39.98.

APi Group (NYSE:APG) last issued its earnings results on Thursday, August 1st. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. APi Group had a net margin of 2.81% and a return on equity of 39.16%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. As a group, equities research analysts expect that APi Group will post 1.88 EPS for the current fiscal year.

Insider Activity at APi Group

In other APi Group news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other APi Group news, major shareholder Global Investors Lp Viking sold 1,951,782 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $38.15, for a total value of $74,460,483.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ian G. H. Ashken sold 150,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $37.21, for a total transaction of $5,581,500.00. Following the completion of the sale, the director now owns 5,828,779 shares of the company’s stock, valued at approximately $216,888,866.59. The disclosure for this sale can be found here. 16.40% of the stock is owned by insiders.

Institutional Investors Weigh In On APi Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APG. Nomura Asset Management Co. Ltd. raised its holdings in shares of APi Group by 43.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,280 shares of the company’s stock valued at $44,000 after purchasing an additional 390 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of APi Group by 100.9% during the 1st quarter. Whittier Trust Co. now owns 1,497 shares of the company’s stock valued at $59,000 after purchasing an additional 752 shares in the last quarter. J.Safra Asset Management Corp raised its holdings in shares of APi Group by 81.3% during the 1st quarter. J.Safra Asset Management Corp now owns 1,731 shares of the company’s stock valued at $68,000 after purchasing an additional 776 shares in the last quarter. Motco bought a new position in shares of APi Group during the 1st quarter valued at $83,000. Finally, Signaturefd LLC raised its holdings in shares of APi Group by 40.2% during the 4th quarter. Signaturefd LLC now owns 3,617 shares of the company’s stock valued at $125,000 after purchasing an additional 1,038 shares in the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.

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.