Services of the Republic (NYSE: RSG – Get a rating) saw its price target raised by Oppenheimer equity researchers from $139.00 to $154.00 in a research report released Monday to clients and investors, Target Stock Advisor reports. The brokerage currently has an “outperform” rating on shares of the business services provider. Oppenheimer’s target price indicates a potential upside of 7.83% from the company’s previous close. Oppenheimer also released estimates for Republic Services Q3 2022 earnings at $1.15 EPS, fiscal year 2022 earnings at $4.77 EPS, and fiscal year 2023 earnings at $5.28 EPS.
Other analysts have also released reports on the company. Morgan Stanley raised its target price on Republic Services from $147.00 to $157.00 and gave the company an “overweight” rating in a research report on Monday. Raymond James raised his target price on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a Friday, April 22 research report. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” rating to a “buy” rating and set a target price of $147.00 for the company in a Thursday, June 16 research report. Finally, Bank of America upgraded Republic Services from a “neutral” rating to a “buy” rating and raised its target price for the company from $140.00 to $150.00 in a Friday, May 13 research report. . Two equity research analysts gave the stock a hold rating, five gave the company a buy rating and two gave the company a strong buy rating. Based on data from MarketBeat, Republic Services currently has a consensus rating of “Buy” and a consensus target price of $148.33.
Performance of Republic Services shares
GSR action opened at $142.82 on Monday. The stock has a 50-day moving average price of $131.07 and a 200-day moving average price of $129.76. Republic Services has a 1-year minimum of $113.57 and a 1-year maximum of $145.98. The company has a current ratio of 0.73, a quick ratio of 0.75 and a debt ratio of 1.26. The company has a market capitalization of $45.12 billion, a PE ratio of 32.76, a price-to-earnings growth ratio of 2.82 and a beta of 0.72.
Services of the Republic (NYSE: RSG – Get a rating) last released its quarterly earnings data on Thursday, August 4. The business services provider reported earnings per share of $1.32 for the quarter, beating the consensus estimate of $1.18 by $0.14. Republic Services had a return on equity of 16.18% and a net margin of 11.31%. The company posted revenue of $3.41 billion in the quarter, versus analyst estimates of $3.30 billion. During the same period last year, the company posted EPS of $1.09. The company’s quarterly revenue increased 21.4% year over year. As a group, equity research analysts expect Republic Services to post earnings per share of 4.78 for the current year.
Insider Trading at Republic Services
In other news, CAD Brian A. Goebel sold 347 shares of the company in a trade that took place on 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 accounting chief now owns 6,186 shares of the company, valued at approximately $835,171.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. In related news, COO Timothy E. Stuart sold 15,000 shares of the company in a transaction that took place on Tuesday, June 7. The stock was sold at an average price of $135.19, for a total value of $2,027,850.00. Following the transaction, the chief operating officer now owns 19,675 shares of the company, valued at $2,659,863.25. The transaction was disclosed in an SEC filing, which is available via the SEC website. Additionally, CAO Brian A. Goebel sold 347 shares of the company in a trade that took place on Thursday, June 2. The shares were sold at an average price of $135.01, for a total value of $46,848.47. Following completion of the transaction, the chief accounting officer now owns 6,186 shares of the company, valued at approximately $835,171.86. Disclosure of this sale can be found here. Insiders of the company hold 0.06% of the shares of the company.
Hedge funds weigh on the services of the Republic
Several institutional investors have recently bought and sold shares of the company. Benjamin Edwards Inc. increased its stake in shares of Republic Services by 0.4% in the fourth quarter. Benjamin Edwards Inc. now owns 18,093 shares of the business services provider worth $2,523,000 after acquiring 79 additional shares during the period. Profund Advisors LLC increased its stake in shares of Republic Services by 2.9% in the fourth quarter. Profund Advisors LLC now owns 2,928 shares of the business services provider worth $408,000 after acquiring 82 additional shares during the period. HighTower Advisors LLC increased its stake in shares of Republic Services by 0.3% in the fourth quarter. HighTower Advisors LLC now owns 24,418 shares of the business services provider worth $3,405,000 after acquiring 82 additional shares during the period. Quadrant Capital Group LLC increased its stake in Republic Services by 2.8% during the first quarter. Quadrant Capital Group LLC now owns 3,015 shares of the business services provider valued at $399,000 after buying 82 additional shares in the last quarter. Finally, First Commonwealth Financial Corp PA increased its stake in Republic Services by 2.4% during the first quarter. First Commonwealth Financial Corp PA now owns 3,605 shares of the business services provider valued at $478,000 after buying 85 additional shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s shares.
About Republic Services
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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