Republic Services (NYSE:RSG) Upgraded by Cibc World Mkts to Strong-Buy Rating

Republic Services (NYSE:RSG) was upgraded by Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on RSG. Truist Financial reissued a “buy” rating and set a $250.00 target price (up previously from $244.00) on shares of Republic Services in a research note on Friday, February 14th. Morgan Stanley raised their target price on shares of Republic Services from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. UBS Group raised their price objective on shares of Republic Services from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. BMO Capital Markets upgraded Republic Services from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $211.00 to $238.00 in a research note on Friday, December 6th. Finally, Argus set a $260.00 price target on Republic Services in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Republic Services currently has an average rating of “Moderate Buy” and a consensus target price of $236.88.

Republic Services Stock Performance

Shares of RSG opened at $235.66 on Tuesday. Republic Services has a 12 month low of $180.91 and a 12 month high of $240.95. The company has a current ratio of 0.58, a quick ratio of 0.64 and a debt-to-equity ratio of 1.04. The firm has a market cap of $73.59 billion, a PE ratio of 36.31, a P/E/G ratio of 3.64 and a beta of 0.74. The stock has a fifty day moving average price of $217.74 and a 200-day moving average price of $210.45.

Republic Services (NYSE:RSG) last posted its earnings results on Thursday, February 13th. The business services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.21. The firm had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Republic Services had a net margin of 12.74% and a return on equity of 18.28%. During the same period in the previous year, the business posted $1.41 EPS. Equities research analysts predict that Republic Services will post 6.86 earnings per share for the current fiscal year.

Insider Activity

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $228.20, for a total value of $1,436,062.60. Following the transaction, the chief operating officer now directly owns 10,416 shares in the company, valued at $2,376,931.20. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Republic Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSG. FSA Wealth Management LLC bought a new position in Republic Services in the third quarter valued at approximately $25,000. Arcadia Investment Management Corp MI lifted its stake in Republic Services by 200.0% in the 4th quarter. Arcadia Investment Management Corp MI now owns 132 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 88 shares in the last quarter. R Squared Ltd acquired a new stake in Republic Services in the 4th quarter valued at $32,000. Truvestments Capital LLC bought a new stake in Republic Services during the third quarter worth about $34,000. Finally, New Age Alpha Advisors LLC grew its stake in shares of Republic Services by 70.2% in the fourth quarter. New Age Alpha Advisors LLC now owns 177 shares of the business services provider’s stock valued at $36,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.