Republic Services (NYSE:RSG) Price target raised to $162.00

Republic Services (NYSE: RSG – Get a rating) had its price target raised by Morgan Stanley equity researchers from $157.00 to $162.00 in a research note released to investors on Tuesday, Benzinga reports. The company currently has an “overweight” rating on shares of the business services provider. Morgan Stanley’s price target would suggest a potential upside of 15.66% from the company’s previous close.

A number of other research companies also weighed in on RSG. StockNews.com downgraded Republic Services from a “strong buy” rating to a “buy” rating in a Monday, August 15, report. Deutsche Bank Aktiengesellschaft raised its price target on Republic Services from $147.00 to $158.00 in a Tuesday, August 9 research note. Finally, Oppenheimer raised his price target on Republic Services from $139.00 to $154.00 and gave the company an “outperform” rating in a Monday, August 8 research note. Two research analysts rated the stock with a hold rating and six gave the company’s stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.17.

Stock of Republic services down 0.3%

RSG stock opened at $140.07 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt ratio of 1.26. The company has a market capitalization of $44.25 billion, a PE ratio of 32.13, a PEG ratio of 2.59 and a beta of 0.70. Republic Services has a 1-year minimum of $113.57 and a 1-year maximum of $149.17. The company’s 50-day simple moving average is $142.15 and its 200-day simple moving average is $134.96.

Republic Services (NYSE: RSG – Get a rating) last reported results on Thursday, August 4. The business services provider reported earnings per share of $1.32 for the quarter, beating analysts’ consensus estimate of $1.18 by $0.14. The company posted revenue of $3.41 billion for the quarter, versus analyst estimates of $3.30 billion. Republic Services had a return on equity of 16.18% and a net margin of 11.31%. The company’s revenue increased by 21.4% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $1.09. As a group, research analysts expect Republic Services to post EPS of 4.78 for the current year.

Insider activity

In other news, CEO Ark Jon Vander sold 14,100 shares of the company in a transaction on Monday, August 8. The stock was sold at an average price of $142.49, for a total transaction of $2,009,109.00. Following completion of the transaction, the CEO now owns 59,619 shares of the company, valued at approximately $8,495,111.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Company insiders own 0.06% of the company’s shares.

Hedge funds weigh on the services of the Republic

A number of institutional investors have recently changed their stake in the company. BlackRock Inc. increased its equity stake in Republic Services by 2.1% during the 1st quarter. BlackRock Inc. now owns 21,085,318 shares of the business services provider worth $2,793,803,000 after buying an additional 427,719 shares last quarter. Vanguard Group Inc. increased its stake in Republic Services by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,800,921 shares of the business services provider worth $2,358,621,000 after buying an additional 168,696 shares in the last quarter. Pictet Asset Management SA increased its stake in Republic Services by 2.3% in the second quarter. Pictet Asset Management SA now owns 8,117,444 shares of the business services provider worth $1,062,389,000 after purchasing an additional 178,861 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Republic Services by 29.8% in Q2. Price T Rowe Associates Inc. MD now owns 7,226,762 shares of the business services provider worth $945,766,000 after purchasing an additional 1,657,265 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Republic Services by 1.3% in the second quarter. Nordea Investment Management AB now owns 5,033,527 shares of the business services provider worth $651,339,000 after buying an additional 66,108 shares in the last quarter. Institutional investors and hedge funds hold 58.01% 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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