Republic Services (NYSE:RSG) Stock Rating Upgrade by Bank of America


Services of the Republic (NYSE: RSGGet a rating) was updated by stock analysts to Bank of America from a “neutral” rating to a “buy” rating in a report released on Friday, Fly reports.

Several other equity analysts have also recently weighed in on RSG. StockNews.com began covering Republic Services in a research note on Thursday, March 31. They have set a “Strong Buy” rating on the stock. JPMorgan Chase & Co. began covering Republic services in a research note on Tuesday, March 1. They gave the company a “neutral” rating. Morgan Stanley raised its price target on Republic Services from $139.00 to $149.00 and gave the company an “overweight” rating in a Tuesday, March 8 research note. Raymond James raised his price target on Republic Services from $140.00 to $142.00 and gave the company an “outperform” rating in a Friday, April 22 research note. 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 research note. Four investment analysts gave the stock a hold rating, five gave the company a buy rating and two gave the company a high buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $134.86.

NYSE: RSG opened at $127.72 on Friday. The company has a debt ratio of 1.07, a current ratio of 0.75 and a quick ratio of 0.71. Republic Services has a fifty-two week minimum of $106.46 and a fifty-two week maximum of $145.98. The stock’s 50-day moving average is $131.85 and its two-hundred-day moving average is $131.14. The stock has a market capitalization of $40.35 billion, a PE ratio of 30.27, a growth price-earnings ratio of 2.78 and a beta of 0.75.

Services of the Republic (NYSE: RSGGet a rating) last reported results on Thursday, May 5. The business services provider reported earnings per share of $1.14 for the quarter, beating the consensus estimate of $1.05 by $0.09. Republic Services had a return on equity of 15.60% and a net margin of 11.54%. The company posted revenue of $2.97 billion for the quarter, versus $2.89 billion expected by analysts. In the same quarter a year earlier, the company posted EPS of $0.93. The company’s revenue for the quarter increased 14.4% year over year. On average, equity research analysts expect Republic Services to post earnings per share of 4.64 for the current year.

In related news, major shareholder Cascade Investment, LLC purchased 88,588 shares of Republic Services in a transaction that took place on Thursday, February 24. The shares were purchased at an average cost of $116.00 per share, for a total transaction of $10,276,208.00. The acquisition was disclosed in a legal filing with the SEC, accessible via this hyperlink. Over the past 90 days, insiders have purchased 710,420 shares of the company worth $83,099,992. Company insiders own 0.06% of the company’s shares.

Hedge funds have recently changed their holdings in the company. Godsey & Gibb Associates acquired a new position in shares of Republic Services during the fourth quarter worth 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 worth $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 during the fourth quarter worth approximately $32,000. FinTrust Capital Advisors LLC increased its stake in shares of Republic Services by 123.6% in the first quarter. FinTrust Capital Advisors LLC now owns 237 shares of the business services provider valued at $32,000 after buying 131 additional shares in the last quarter. Finally, Confluence Wealth Services Inc. acquired a new position in shares of Republic Services in the fourth quarter worth $33,000. Institutional investors hold 92.80% 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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