Republic Services (NYSE:RSG) Price Target Raised to $250.00 at Scotiabank

Republic Services (NYSE:RSG) had its price objective lifted by analysts at Scotiabank from $233.00 to $250.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the business services provider’s stock. Scotiabank’s price target points to a potential upside of 10.07% from the stock’s previous close.

Several other research firms have also commented on RSG. William Blair reiterated an “outperform” rating on shares of Republic Services in a research note on Friday, February 14th. Cibc World Mkts upgraded Republic Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and boosted their target price for the stock from $219.00 to $237.00 in a research note on Tuesday, December 10th. Royal Bank of Canada upgraded Republic Services from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $219.00 to $237.00 in a research note on Monday, January 6th. Finally, Truist Financial restated a “buy” rating and set a $250.00 price objective (up previously from $244.00) on shares of Republic Services in a report on Friday, February 14th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Republic Services presently has an average rating of “Moderate Buy” and a consensus price target of $238.50.

Republic Services Stock Down 1.6 %

RSG stock traded down $3.80 during trading on Tuesday, hitting $227.13. 2,476,033 shares of the company’s stock traded hands, compared to its average volume of 1,111,945. The firm has a market capitalization of $70.93 billion, a P/E ratio of 35.00, a PEG ratio of 3.64 and a beta of 0.62. Republic Services has a 1 year low of $180.92 and a 1 year high of $249.73. The company has a quick ratio of 0.64, a current ratio of 0.58 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $231.01 and a two-hundred day simple moving average of $215.46.

Republic Services (NYSE:RSG) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.37 by $0.21. Republic Services had a return on equity of 18.28% and a net margin of 12.74%. The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the previous year, the company posted $1.41 EPS. Sell-side analysts anticipate that Republic Services will post 6.86 EPS for the current year.

Insider Buying and Selling at Republic Services

In other Republic Services news, COO Gregg Brummer sold 6,293 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $228.20, for a total value of $1,436,062.60. Following the sale, the chief operating officer now owns 10,416 shares in the company, valued at approximately $2,376,931.20. This represents a 37.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Republic Services

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Republic Services by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 18,590,728 shares of the business services provider’s stock worth $3,740,083,000 after acquiring an additional 144,719 shares during the period. Pictet Asset Management Holding SA raised its holdings in Republic Services by 3.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,262,325 shares of the business services provider’s stock worth $1,259,855,000 after purchasing an additional 218,729 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Republic Services by 10.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,317,804 shares of the business services provider’s stock worth $1,069,836,000 after purchasing an additional 499,237 shares in the last quarter. Geode Capital Management LLC grew its holdings in Republic Services by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,565,137 shares of the business services provider’s stock valued at $918,045,000 after purchasing an additional 57,616 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Republic Services by 19.4% in the fourth quarter. Nordea Investment Management AB now owns 3,129,322 shares of the business services provider’s stock valued at $626,553,000 after buying an additional 509,116 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors and hedge funds.

Republic Services Company Profile

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.