Republic Services (NYSE: RSG – Get a rating) saw its target price lowered by Morgan Stanley from $152.00 to $142.00 in a report on Wednesday, Fly reports. Morgan Stanley’s target price indicates a potential upside of 14.03% from the current stock price.
Other stock analysts have also recently released research reports on the stock. StockNews.com began covering Republic Services shares in a research report on Thursday, March 31. They issued a “Strong Buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Republic Services shares from a “hold” rating to a “buy” rating and set a price target of $147.00 on the stock in a Thursday, June 16 research report. JPMorgan Chase & Co. began covering Republic Services shares in a research note on Tuesday, March 1. They set a “neutral” rating on the stock. Bank of America moved Republic Services shares from a ‘neutral’ rating to a ‘buy’ rating and raised its price target for the stock from $140.00 to $150.00 in a research note Friday, May 13. Finally, Raymond James raised his price target on Republic Services shares from $140.00 to $142.00 and gave the stock an “outperform” rating in a Friday, April 22 research note. Two research analysts gave the stock a hold rating, six issued a buy rating and two gave the company’s stock a strong buy rating. According to MarketBeat.com, Republic Services has a consensus rating of “Buy” and an average target price of $138.14.
NYSE: RSG opened at $124.53 on Wednesday. The company has a debt ratio of 1.07, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $39.34 billion, a price-to-earnings ratio of 29.51, a growth price-to-earnings ratio of 2.46 and a beta of 0.75. Republic Services has a 52-week minimum of $107.71 and a 52-week maximum of $145.98. The company has a 50-day moving average price of $131.15 and a two-hundred-day moving average price of $130.20.
Republic Services (NYSE: RSG – Get a rating) last released its quarterly earnings data on Thursday, May 5. The business services provider reported earnings per share of $1.14 for the quarter, beating analyst consensus estimates of $1.05 by $0.09. Republic Services had a net margin of 11.54% and a return on equity of 15.60%. The company posted revenue of $2.97 billion in the quarter, versus analyst estimates of $2.89 billion. During the same period of the previous year, the company achieved EPS of $0.93. Republic Services revenue increased 14.4% compared to the same quarter last year. As a group, sell-side analysts expect Republic Services to post earnings per share of 4.67 for the current year.
In other Republic Services news, CAO Brian A. Goebel sold 347 shares of the company in a trade dated Thursday, June 2. The stock was sold at an average price of $135.01, for a total value of $46,848.47. As a result of the transaction, the chief accounting officer now directly owns 6,186 shares of the company, valued at $835,171.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at the SEC website. Also, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction dated Tuesday, June 7. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. Following completion of the transaction, the COO now directly owns 19,675 shares of the company, valued at $2,659,863.25. Disclosure of this sale can be found here. Insiders of the company hold 0.06% of the shares of the company.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Republic Services during Q4, valued at approximately $499,246,000. Norges Bank acquired a new stake in Republic Services during Q4, valued at approximately $277,394,000. BlackRock Inc. increased its stake in Republic Services by 2.3% during the 4th quarter. BlackRock Inc. now owns 20,657,599 shares of the business services provider valued at $2,880,704,000 after purchasing an additional 466,966 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its stake in Republic Services by 46.1% in Q1. Mitsubishi UFJ Trust & Banking Corp now owns 1,384,966 shares of the business services provider valued at $183,542,000 after purchasing an additional 436,685 shares during the period. Finally, Invesco Ltd. increased its stake in Republic Services by 18.4% during the 1st quarter. Invesco Ltd. now owns 2,723,076 shares of the business services provider valued at $360,808,000 after purchasing an additional 422,281 shares during the period. 92.80% of the shares are currently held by hedge funds and other institutional investors.
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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