Raymond James raises Republic Services (NYSE:RSG) price target to $142.00


Services of the Republic (NYSE: RSGGet a rating) saw its target price raised by Raymond James equity researchers from $140.00 to $142.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on shares of the business services provider. Raymond James’ price target would suggest a potential upside of 5.33% from the company’s previous close.

Other analysts have also recently released reports on the company. StockNews.com assumed Republic Services coverage in a Thursday, March 31 report. They issued a “Strong Buy” rating for the company. JPMorgan Chase & Co. began covering Republic Services stocks in a research report on Tuesday, March 1. They gave the company a “neutral” rating. Morgan Stanley raised its price target on Republic Services shares from $139.00 to $149.00 and gave the company an “overweight” rating in a Tuesday, March 8 report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on Republic Services from $142.00 to $139.00 and set a “hold” rating for the company in a Monday, February 14 report. Four equity research analysts gave the stock a hold rating, four issued a buy rating and two issued a strong buy rating for the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $134.86.

Shares of RSG opened at $134.81 on Friday. The company has a market capitalization of $42.57 billion, a price-earnings ratio of 33.37, a PEG ratio of 2.86 and a beta of 0.81. The company has a debt ratio of 1.06, a current ratio of 0.71 and a quick ratio of 0.71. Republic Services has a 1 year minimum of $104.00 and a 1 year maximum of $145.98. The company has a 50-day moving average of $128.11 and a 200-day moving average of $130.62.

Services of the Republic (NYSE: RSGGet a rating) last released its quarterly results on Thursday, February 10. The business services provider reported earnings per share of $1.02 for the quarter, beating Thomson Reuters consensus estimate of $1.01 by $0.01. The company posted revenue of $2.95 billion in the quarter, versus a consensus estimate of $2.87 billion. Republic Services achieved a net margin of 11.42% and a return on equity of 15.04%. The company’s revenue increased 14.8% year over year. In the same quarter a year earlier, the company posted earnings per share of $1.00. On average, stock analysts expect Republic Services to post earnings per share of 4.62 for the current fiscal year.

In other news from Republic Services, major shareholder Cascade Investment, LLC acquired 362,747 shares in a transaction dated Friday, February 18. The shares were purchased at an average price of $117.17 per share, with a total value of $42,503,065.99. The acquisition was disclosed in an SEC filing, which is available via this link. Over the past ninety days, insiders have purchased 710,420 shares of the company worth $83,099,992. Insiders own 0.06% of the shares of the company.

Hedge funds have recently increased or reduced their holdings in the stock. Godsey & Gibb Associates bought a new stake in Republic Services during the 4th quarter for a value of approximately $28,000. Glassman Wealth Services increased its holdings of Republic Services stock by 116.8% in the first quarter. Glassman Wealth Services now owns 206 shares of the business services provider valued at $27,000 after buying 111 additional shares in the last quarter. Masso Torrence Wealth Management Inc. acquired a new position in shares of Republic Services in Q4 worth $32,000. Confluence Wealth Services Inc. acquired a new stake in Republic Services during Q4 valued at approximately $33,000. Finally, Desjardins Global Asset Management Inc. acquired a new stake in Republic Services during Q4 worth approximately $38,000. Institutional investors hold 58.80% of the company’s shares.

About Republic Services (Get a rating)

Republic Services, Inc., together with its subsidiaries, provides environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste and other environmental solutions. Its collection services include curbside collection of materials for transportation to transfer stations, landfills or recycling processing centers; supply of recycling and waste containers; and rental of compactors.

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